Siemens Wind Power and Renewables business unit received orders for € 2,729 billion in the third quarter of 2016. The higher volume from large orders, includes a €1.4 billion order for an offshore wind farm, including service, in the UK and a € 0.5 billion order for an offshore wind-farm in Germany.
Revenue in Q3 rose to 1,722 billion and has reached a new high on a quarterly basis, on substantial growth including increases in both offshore and onshore new unit businesses as well as in the service business. Profit for the business unit was € 143 million (8.3% profit margin). In June 2016, Siemens and Gamesa Corporación Tecnológica SA (Gamesa) signed binding agreements to merge the Siemens wind power business, including service, with Gamesa. Siemens will own 59% of the shares of the combined entity. The transaction is subject to approval by Gamesa’s shareholders and other customary conditions.
