GE's major losses abate
"Fortunate" late-year order intake provides the US-based OEM with a record-large order book and, despite yet another major deficit, surprisingly manages to stop hemorrhaging capital at one important point.
Taken in isolation, 2020 was yet another poor year for GE Renewable Energy. With a loss of USD 715 million, the division's end result is only a slight improvement from the deficit of USD 791 million booked at the same time last year. Meanwhile, divisional revenue, which beyond wind power also includes the hydroelectric and network business, increased only marginally by 2 percent to USD 15.7 billion. The unit was thereby, true to custom, the industrial conglomerate's economic whelp – but then again.
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