Siemens - Q4 and full year 2018Power plant division as a brake pad
Siemens has closed the 2018 financial year: The company was able to increase its order intake and sales, but profits in the Industrial Business declined. This is attributable to the sluggish business in the Power and Gas Division.
The Siemens Gamesa Renewable Energy division had to contend with considerable negative currency translation effects on order intake. On a comparable basis, there was strong growth in the onshore and service businesses, which was partially offset by a decline in order intake in the offshore business. Sales revenue rose significantly, with increases in all businesses and reporting regions. The enormous increase in earnings was boosted by positive effects in connection with the implementation and completion of projects as well as higher sales revenue and an increased contribution from the service business. The negative result in the same quarter of the previous year was due to charges of € 134 million, primarily from the write-down of inventories.