ABB_id2059
in News Departments > FYI
print the content item

Siemens has released its earnings report for the first fiscal quarter (Q1) of this year.

The company's Energy segment reported a profit of 567 million euros, up 12% year over year. Siemens' Wind Power division recorded a profit of 52 million euros for Q1, compared to a loss a year earlier.

Key factors in the increase included higher revenue, positive effects related to project completions, and settlement of a claim related to an offshore wind farm project, Siemens says. Revenue in the company's Wind Power segment rose 27% compared to revenue from the first fiscal quarter of 2012, as the division continued to work off its order backlog in both Europe/CAME and the Americas.

However, Siemens says its wind power orders were down 25% year over year, due, in part, to concerns about expiring tax incentives in the U.S. at the end of 2012.

On a regional basis, Siemens saw significant revenue growth in the Americas in all of its divisions, which more than offset a moderate decline in the Europe/CAME region, where only the Wind Power segment posted an increase.


Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015