Siemens Gamesa Cover Annual Report

Annual Report 2018

Leading the way in renewable energy

Our fiscal year 2018
Find general information about our company, including our L3AD2020 strategy, a short overview of our performance during fiscal year 2018 and our activities in the field of sustainability and corporate governance.
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For retail shareholders:

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For institutional shareholders and financial analysts:

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Download the Annual Report 2018

Summary

Shaping the renewable energy industry
Leading the way forward in the renewable energy sector, Siemens Gamesa provides cleaner, more reliable and affordable wind power. Our scale, global reach and proven track record ensure that we will play a central role in shaping the energy landscape of the future.
With our scale, global reach, and balanced business set-up Siemens Gamesa is perfectly positioned to lead growth for the wind industry.
Markus Tacke, CEO, Siemens Gamesa Renewable Energy
Markus Tacke

CEO, Siemens Gamesa Renewable Energy

L3AD2020

Our strategy: L3AD2020

One of the significant developments in 2018 for Siemens Gamesa was the launch of a core strategy for getting our still young company up to speed by 2020. Against a backdrop of transition in the wind industry, we unveiled the L3AD2020 program on February 15, 2018, with the stated objective of ensuring our company’s leading position in the wind sector. The L3AD2020 reflects the commitment of Siemens Gamesa to making real what matters to future generations.

With this target in mind, the company launched a three-year program built on four modules:

  • Growth
  • Transformation
  • Digitalization and
  • Change Management.

L3AD2020 is structured in three stages: merger and stabilization, leveraging economies of scale, and sustainable profitability. At the end of fiscal year 2018, Siemens Gamesa had completed the first stage and achieved all the planned milestones and targets.


Growth
Our growth plan is defined by a few clear objectives. Employing several market-specific strategies, we are going to outgrow the onshore market in turbine sales and revenue. We are also working on keeping our offshore market share by increasing our annual order entry through leadership and innovation in core and emerging markets. Finally, we will also improve our service standing. We are growing the fleet we have under maintenance to reach 80 GW by 2020.
L3AD2020 growth
L3AD2020 transformation
Transformation
We have set ourselves the ambitious target of achieving €2 billion in cost reductions by 2020 that mainly will be achieved by standard productivity and by synergies. However, this target can be achieved in different ways depending on the function or the business. We will focus on product affordability as the major saving, and the rest with operations and selling, general and administrative expenses (SG&A).
Digitalization
The L3AD2020 program depends on digitalization to give us the tools we need to not only succeed but excel and lead in an industry on which so much of the future depends.
L3AD2020 digitalization
L3AD2020 Change Management
Change Management
It has been said many times that change can be hard. Change can be challenging. These things are obviously true, but change is also very often the only way to get where you want to go. At Siemens Gamesa, we know where we want to go, and we are building the culture of trust we need to make sure we can get there.
We have all it takes to remain a frontrunner. We’re passionate about renewables and sustainability.
Miguel Ángel López, Chairman, Siemens Gamesa Renewable Energy
Miguel Ángel López

Chairman, Siemens Gamesa Renewable Energy

Fiscal year 2018 key facts
Fiscal year 2018 was a challenging year for Siemens Gamesa; yet the company’s performance during the year was fully in line with its financial guidance and the period concluded strongly.
Siemens Gamesa fiscal year 2018 key facts
1 End of December 2018 (Q1 FY19)
Download the Annual Report 2018
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