FY20

RESULTS

November 5, 2020

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The forward-looking statements and guidance included in this material reflect Siemens Gamesa's outlook excluding the eventual effects of the implementation of the plans announced by Siemens AG with respect to its stake in Siemens Gamesa Renewable Energy, S.A. (significant event with CNMV register number 277864).

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Note on alternative performance measures (APMs)

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.

© Siemens Gamesa Renewable Energy

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FY20 Key Points

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Fiscal Year

2020.................................................................................................................

Key Points

FY20 Key Points

Revised guidance met with performance impacted by COVID-194, market developments in India and challenges in Northern Europe

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Record order intake, €14.7bn, and backlog: €30.2bn1 with 9.3 GW additional WTG OF pipeline2

  • 1.6x Book-to-Bill
  • 91% revenue coverage for FY213
  • FY20 revenue: €9,483m1 and EBIT margin5: -2.5%
  • Q4 20 revenues: €2,868m1 and EBIT margin5: 1.1%
  • Strong performance of Service despite COVID-19

Business plan FY21 - FY23 and new management team in place

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Strong liquidity and focus on asset management:

  • €1,143m YoY improvement in working capital to -€1,976mor -20.8%of sales
  • Net debt of €49m
  • C. €4.2bn in financing lines with €1.1bn used
  • LEAP to support Onshore turnaround and Offshore and

Service ongoing profitable growth......... Long-termvision reinforced with renewable energy as

core to sustainable economic models and economic recovery

  1. Currency impact on backlog of -€1,391m, on FY20 revenue of -€174m (FY20 revenue at constant currency amounted to €9,657m) and on Q4 20 revenue of -€144m
  2. Pipeline made of preferred supply agreements and conditional orders that are not part of SGRE's WTG OF backlog
  3. Revenue coverage calculated over average point of FY21 revenue guidance range of €10,200m and €11,200m
  4. Direct impact of COVID-19 on EBIT pre PPA and I&R costs of €181m or 1.9% as percentage of FY20 revenue. COVID-19 impact in Q4 20 of €31m
  5. EBIT margin pre PPA and I&R costs, excluding the impact of PPA on the amortization of intangibles: €262m in FY20 (€59m in Q4 20), and integration and restructuring costs: €462m in FY20 (€110m in Q4 20)

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Siemens Gamesa Renewable Energy SA published this content on 05 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 06:21:01 UTC