Home Business & Finance Siemens Gamesa sees 2019 margins squeezed by commodity prices, emerging markets
Siemens Gamesa sees 2019 margins squeezed by commodity prices, emerging markets

Siemens Gamesa sees 2019 margins squeezed by commodity prices, emerging markets

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Formed by a merger of Spain’s Gamesa with the wind power unit of Siemens, Siemens Gamesa said full-year revenue came in at 9.12 billion euros versus 10.96 billion euros a year ago

MADRID: Wind turbine maker Siemens Gamesa said on Tuesday commodity prices and emerging market volatility would hit profit margins in 2019 as it reported a fall in revenue from last year.

Formed by a merger of Spain’s Gamesa with the wind power unit of Siemens, Siemens Gamesa said full-year revenue came in at 9.12 billion euros ($10.4 billion) versus 10.96 billion euros a year ago.

The company said it expected to return to revenue growth in 2019 but its closely-watched earnings before interest and tax (EBIT) margin to come in between 7 and 8.5 per cent.

Source: reuters

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Anand Gupta Editor - EQ Int'l Media Network

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