Siemens Gamesa admits to more blame for own woes

The likelihood of a full takeover by the parent company has risen, argues Deutsche Bank on the topic of the turbine maker, which is negotiating double-digit percentual price increases and bigger, earlier up-front payments with customers.

Photo: Siemens Energy

No news is good news. Inherent in the old proverb is a certain ambiguity that appears quite fitting for Siemens Gamesa. There is actually close to no news that’s good news for the turbine maker, which Tuesday evening announced preliminary second quarter figures – which, despite causing something of a stir, for the most part revealed no news.

There are still problems involving external circumstances such as pricing and availability of components. And still internal problems with the 5.X platform. And it marks another quarter showing a deep deficit. Which entails that the full-year guidance must be revised – just like in the second quarter of 2021, the third quarter of 2021, the fourth quarter of 2021 and the first quarter of 2022. Meanwhile, parent company Siemens Gamesa is once again plunged into uncertainty regarding the annual accounts.

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