The Siemens Renewable Energy business suffered a major loss in its CSP revenue, and its operating loss amounted to 154 million euros (approximately US$209 million) in the fourth quarter.
Comparing the fact that the 97 million Euros in the same period of last year have demonstrated losses, the net revenue of this piece of CSP fell from 9.9% in the same period of last year to -13.3%, according to the "forecast growth prospects and long-term market for CSP business." "Development" internal assessment, Siemens' loss amounted to 231 million euros (about 314 million US dollars)
Analysts have slammed Siemens for its $418 million concentrating solar power plant (CSP) project won by Israel in 2009. It was said that this project caused the company to burn too much money. Since then, the solar zone countries have invested in photovoltaics. With continuous reduction and crippling competition in the entire photovoltaic industry, Siemens' CSP sector can fully see how this segment is depressed.
From that project, renewable energy revenues have been declining, and analysts have generally predicted today's losses.
In any case, many of its other renewable energy sectors continued to show a growth trend this quarter, with revenue rising by 18% to 1.66 billion euros and new orders rising by 67% to 2.43 billion euros. Despite the pressure of price cuts, their wind power business remained profitable compared to the same period last year. It is worth mentioning that the biggest orders they won were from two large offshore wind power stations in Denmark and Germany. It was the first offshore order from China.
Siemens predicts that their main source of revenue will be changed to the German energy system, because the country is just determined to phase out all nuclear power plants.
At the same time, Siemens also reported that their quarterly revenues rose by 5% to 20.35 billion euros. New orders for 211.6 euros were slightly lower than the same period of last year. The company's net revenue was 1.23 billion euros.
According to a full-year financial report issued by Siemens, overall revenue increased by 73.52 billion euros, while new orders increased by 16% to 85.58 billion euros.
Comparing the fact that the 97 million Euros in the same period of last year have demonstrated losses, the net revenue of this piece of CSP fell from 9.9% in the same period of last year to -13.3%, according to the "forecast growth prospects and long-term market for CSP business." "Development" internal assessment, Siemens' loss amounted to 231 million euros (about 314 million US dollars)
Analysts have slammed Siemens for its $418 million concentrating solar power plant (CSP) project won by Israel in 2009. It was said that this project caused the company to burn too much money. Since then, the solar zone countries have invested in photovoltaics. With continuous reduction and crippling competition in the entire photovoltaic industry, Siemens' CSP sector can fully see how this segment is depressed.
From that project, renewable energy revenues have been declining, and analysts have generally predicted today's losses.
In any case, many of its other renewable energy sectors continued to show a growth trend this quarter, with revenue rising by 18% to 1.66 billion euros and new orders rising by 67% to 2.43 billion euros. Despite the pressure of price cuts, their wind power business remained profitable compared to the same period last year. It is worth mentioning that the biggest orders they won were from two large offshore wind power stations in Denmark and Germany. It was the first offshore order from China.
Siemens predicts that their main source of revenue will be changed to the German energy system, because the country is just determined to phase out all nuclear power plants.
At the same time, Siemens also reported that their quarterly revenues rose by 5% to 20.35 billion euros. New orders for 211.6 euros were slightly lower than the same period of last year. The company's net revenue was 1.23 billion euros.
According to a full-year financial report issued by Siemens, overall revenue increased by 73.52 billion euros, while new orders increased by 16% to 85.58 billion euros.
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