Siemens Gamesa reported expanded net sales for the third quarter amid increased costs and supply chain issues, and stressed that it is taking steps to overhaul its current operating model.
The Spanish wind turbine maker posted a net loss of 446 million euros compared to losses of 314 million euros a year ago.
Revenue for the quarter fell to €2.44 billion from €2.70 billion a year ago.
Quarterly performance was impacted by challenges in ramping up the 5x onshore platform, as well as supply chain disruptions and volatile market dynamics such as energy inflation and raw material costs.
Siemens Gamesa has cut estimates for FY22, and expects the EBIT margin to be -5.5% versus the previous target of -4%.
He also emphasized that he expects an increase in revenues corresponding to the lower range of estimates of -2% to -9%.
Siemens Gamesa said it is taking steps to restructure its current operating model as part of a new strategy launched.
“The new arrangement will accelerate the recovery of our company. It will provide a very clear picture of business activities and greater transparency overall,” says CEO Jochen Eickholt.
Source: Capital
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