The loss in the three months from October to December amounts to 240 million euros, as can be seen from the interim balance sheet of the energy technology group. A year ago there was still a profit of 99 million euros.
The energy company had already published figures on incoming orders, sales and adjusted operating earnings in the first quarter almost three weeks ago because it had to adjust its own forecasts after a profit warning from Spain.
Siemens Gamesa hasn’t made any money from its wind turbines for quite some time. On the one hand, the ramp-up of the new 5.X turbines that are to be installed on land is causing major problems, on the other hand, delivery bottlenecks and rising component costs are causing projects to get out of control financially.
Siemens Gamesa’s renewed profit warning is “a setback and disappointing for all shareholders,” commented Siemens Energy boss Christian Bruch on the numbers. On the other hand, the “solid development” in the Gas and Power power plant division shows “that we are making progress with the transformation”.
Bruch has already reacted to the continued bad news and parted ways with Gamesa boss Andreas Nauen at the end of the month. In order to get the problems there under control, the experienced Siemens crisis manager Jochen Eickholt is sent from Munich to Bilbao.
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