Siemens Gamesa: no gusts of wind on FY loss of E940m
(CercleFinance.com) - The wind engineering company's FY sales came in at 9,814 million euros (October 2021 to September 2022; -4% y-o-y).
EBIT before integration and restructuring costs amounted to -581 million euros, i.e. an EBIT margin of -5.9%.
These figures are due to unstable procurement and project execution delays, challenges stemming from the ramp-up of the Siemens Gamesa 5.X platform, reduced manufacturing activity and component failures and repairs in existing land-based platforms, it said.
However, this impact was partly offset by the successful sale of renewable development assets in southern Europe.
The company ended the year with a net loss of 940 million euros (worse than the 627 million euro loss in FY2021).
The share is currently flat at almost exactly 18 euros.
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