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Siemens Gamesa reports massive losses and adjusts guidance

A negative EBIT of EUR 289m in the first quarter leads to a downgrade of the 2022 guidance. Issues in the supply chains drag on, the turbine maker reports.

Photo: Siemens Gamesa
BY

There’s never a great opportunity to announce that the year is going to be worse than expected.

But that’s just what Siemens Gamesa has done tonight. The announcement comes just before the publication of the report for the first quarter, for which Siemens Gamesa expects earnings before interests and taxes at a negative EUR 309m. This leads to an adjustment of its full-year guidance from an adjusted EBIT in the range of 1 to 4 percent to adjusted EBIT in the range of minus 4 to 1 percent.

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Vattenfall secures public funding for hydrogen venture in the UK

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