GCTAF - Siemens Gamesa Renewable Energy S.A. reports FY results

• Siemens Gamesa Renewable Energy, S.A. press release ( OTCPK:GCTAF ): FY Revenue of €9.8B.
• Order intake from July to September increased 53% year-over-year to €4,405 million: €1,566 million in offshore (+76% year-over-year), €1,743 million in onshore (twice the figure registered in the same period of the previous year, boosted by the asset disposal in southern Europe), and €1,097 million in service (-3% year-over-year).
• As of September 30, 2022, net debt totaled -€1,232 million. Siemens Gamesa has €4,402 million in committed funding lines, against which it has drawn €1,615 million. Total liquidity amounts to €4,029 million, including cash on the balance sheet at the end of fiscal year 2022 (€1,242 million).
• “Fiscal year 2022 was definitely a very difficult one. But with the launch of the Mistral program, we have set the stage to deliver profitable growth and achieve our long-term vision. Before we get there, we have a transition year ahead of us, still impacted by elevated inflation, supply chain disruptions and geopolitical risks. This is affecting the entire wind industry and could jeopardize the energy transition – unless there is a clear commitment from policymakers and authorities to treat the industry as having the greatest strategic importance. Because we are indispensable to society and a crucial pillar of the future energy system,” said Siemens Gamesa’s CEO, Jochen Eickholt.

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