Siemens Energy reviews outlook – problems at Siemens Gamesa

SiemensEnergy

Because of the Ukraine war, the business environment for Siemens Energy has become more challenging.

(Photo: dpa)

Berlin Siemens Energy is struggling with ongoing problems at its wind power subsidiary Siemens Gamesa and the consequences of the Ukraine war. As a consequence, the energy technology group is putting its annual forecast to the test.

“As a result of the war, Siemens Energy sees the first effects on sales and profitability and is faced with an aggravation of the existing disruptions to the supply chains,” the company said late Tuesday evening. The consequences for business in the coming months cannot yet be fully assessed.

Siemens Energy had previously expected an adjusted operating return on sales (EBITA) before special items in a range of two to four percent for 2021/22 (September 30). Sales should develop in a range of minus two to plus three percent. These goals may now not be achievable.

Like many other companies, Siemens Energy had also stopped new business with Russia. But the problems are not only due to the war.

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