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Press release 29 January 2021 SIEMENS Gamesa RENEWABLE ENERGY Results for the first quarter of FY 2021 ( October 2020- December 2020 ) Siemens Gamesa starts fiscal year 2021 with solid financial performance Strong momentum in renewables , underpinned by the transition to green energy systems , boosted the order book to € 30.1bn Revenue amounting to € 2,295m and a positive EBIT margin of 5.3 % confirm guidance for the year . Strong funding position , with € 4.6bn in available liquidity Siemens Gamesa registered a solid start to fiscal year 2021 , supported particularly by strong performance in Offshore and Service that led to an increase in revenue year - on - year and a positive EBIT margin pre - PPA and before integration and restructuring costs . The company also reported a strong financial position and an order book that evidences the company is well placed to capture the potential of the wind industry . As announced in a regulatory disclosure to the CNMV , revenue increased by 15 % year - on - year ( y / y ) in the first quarter to € 2,295m , driven by strong sales performance by both Offshore and Service , but also affected negatively by currency depreciation . Excluding this impact , revenue would have increased by 21 % , to € 2,427m . Onshore sales continue to be affected by some delays in project execution as a result of restrictions on the movement of people and goods due to the COVID - 19 pandemic , but this impact was lower than in the previous fiscal year , and it is expected to tail off over the coming quarters as the vaccine is rolled out . In the three months to 31 December 2020 , EBIT before PPA amortization and integration and restructuring costs was € 121m ( versus a loss of - € 136m in the year - ago quarter ) , with an implied margin of 5.3 % of revenue , benefiting from the strength of the product portfolio and from productivity gains in the quarter . Profitability also reflects the effect of turnaround actions . Net income attributable to SGRE shareholders amounted to € 11m in Q1 FY21 . Reported revenue growth and the positive EBIT margin pre PPA and before I & R support the guidance for fiscal year 2021 , announced in November 2020 : revenues between € 10,200m and € 11,200m and an EBIT margin before PPA and I & R costs between 3 % and 5 % . The solid balance sheet in the first quarter of FY21 is reflected in the financial position , with € 4.4bn in committed funding lines , against which the company had drawn around € 1.3bn , and total liquidity in the amount of c . € 4.6bn including the cash position . Net debt stood at € 476m at the end of December . " Our performance in the first quarter shows our commitment to prioritizing profitability ( over volume ) , cash flow and sustainability , which are the levers of our strategy to put the company back on track to sustainable profitability . At the same time , our performance shows that Siemens Gamesa occupies a leading position in driving the transition towards non - polluting energies , " said Andreas Nauen , Siemens Gamesa's Chief Executive Officer . Commercial activity reflects the strong momentum for renewables Despite the persisting impact of the pandemic , decarbonization commitments worldwide in which renewable energy plays a key role and its central place in green recovery programs support strong prospects for the wind industry . In this context , Siemens Gamesa's order book amounted to € 30,104m ( + 7 % y / y ) at the end of December 2020 .