GE Renewable Energy took its place alongside the group's other main business segments in GE's fourth-quarter 2015 results after being upgraded following last year’s $9.5bn acquisition of France’s Alstom, which closed in the quarter.
Renewable Energy pulled in revenues of $1.94bn in the October-December period, a 16% year-on-year fall, with lower US wind shipments and foreign exchange factors highlighted.
Along with the effect of new product launches on profit margins, that drove a fall in segment profits to $56m for the quarter, a 79% dip, or 54% excluding Alstom impacts.
The
