Siemens Gamesa: stock blown aside by tricky 2019/20
(CercleFinance.com) - The Siemens Gamesa share is down in Madrid on Friday, as the wind turbine manufacturer released quarterly results that investors and analysts didn't like.
At lunchtime, the share was down 4%, by far the biggest faller in the IBEX 35 index in Madrid.
The industrial group based in Spain reported a Q4 (to end-September) profit margin that fell short of expectations.
At the operating level, its EBIT margin reached just 1.1%, on revenue that is down 2.6% at 2.9 billion euros.
In the end, Siemens Gamesa recorded a net loss of 113 million euros over the quarter, bringing its FY 2019/2020 loss to 918 million euros.
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