FY21

RESULTS

November 5, 2021

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Note on alternative performance measures (APMs)

This document includes supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens Gamesa´s net assets and financial position or results of operations as presented in its consolidated financial statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. The definitions and reconciliation of the alternative performance measures that are included in this presentation are disclosed in the Activity Report associated to these and previous results. The glossary of terms is also included in the Activity Report associated to these results.

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FY21 Key points

3

Fiscal Year

2021 .................................................................................................................

Key points

Key points

  • FY21 performance in line with low end of guidance, impacted by increasing supply chain challenges and ramp-up costs in Onshore; strong execution in Offshore and Service
    • Revenue: €10,198m1 (Q4 21: €2,863m) and FY21 EBIT margin2: -0.9% (Q4 21: -6.2%)
  • LEAP, restructuring and added actions in place to address supply chain challenges and bear fruits in coming years
    • Focus on project execution and footprint optimization: India restructuring completed and consolidation of EMEA capacity ongoing
    • Cost-outprograms and enhanced procurement and pricing practices to address supply chain volatility and cost inflation
    • Siemens Gamesa 5.X prototypes tested and proven; special actions on cost-out and supply chain development launched
    • Continuous investment in Offshore to lead the market and capture growth
  • FY22 guidance3 still impacted by supply chain environment; long-term vision confirmed and to be achieved in FY24-FY25
    • FY22 revenues expected to decline between 2% and 7%; EBIT margin4: 1% to 4%
    • Long-termvision (EBIT margin4: 8%-10%) supported by strong momentum in renewables and an order backlog of €32.5bn
  1. Group revenue at constant exchange rates of Fiscal Year 2020 amounted to €10,383m
  2. EBIT margin pre PPA and I&R costs, excluding the impact of PPA on the amortization of intangibles: -€230m in FY21 (-€55m in Q4 21), and the integration and restructuring costs:- €197m in FY21 (-€48m in Q4 21). EBIT pre PPA and before integration and restructuring costs in the second half of FY21 includes provisions for onerous contracts in the Onshore business in the amount of c. -€298m
  3. This outlook excludes charges related to legal and regulatory matters and portfolio and currency effects. It does not include any impact from a potential lockdown of manufacturing activities or severe disruptions to the supply chain due to COVID-19 developments
  4. All references to EBIT margin are to EBIT margin pre PPA and I&R costs

© Siemens Gamesa Renewable Energy

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Fiscal Year

2021.................................................................................................................

Key Points

Major achievements in execution, market access and technology support long-term success

>10 GW Offshore DD1 (c. 19 GW

Siemens Gamesa 5.X rating increased

Offshore DD with availability >98% in

to 6.6 MW, featuring the largest

Offshore in total) wind turbines installed to

FY21 for fleet maintained by SGRE

installed rotor in the industry

date with flawless execution

  1. 1,520 Offshore DD Wind turbines installed

© Siemens Gamesa Renewable Energy

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Siemens Gamesa Renewable Energy SA published this content on 05 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2021 16:57:07 UTC.