Siemens Gamesa expects revenue of nearly €2.2 bn in Q2

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Siemens Gamesa Renewable Energy said it is expecting revenue of nearly €2.2 billion in the second quarter of financial year 2022.

Siemens Gamesa will release quarterly results on May 5, 2022.

Siemens Gamesa Group has signed €1.2 billion in new orders during the second quarter of financial year 2022. Siemens Gamesa recently announced the appointment of Jochen Eickholt as the CEO to turnaround the wind business.

Siemens Gamesa said its business performance was severely impacted by product and execution related issues, mostly related to the Siemens Gamesa 5.X platform ramp-up process, and by difficult market conditions.

The ramp-up process of Siemens Gamesa 5.X platform has impacted production and project execution schedule during the second quarter of the financial year 2022.

The wind turbine maker said its production and profitability have impacted by pressure on energy, commodities and transportation costs, availability of key turbine components, harbor congestions, and delayed customers’ investment decisions that are also affecting onshore commercial activity as reflected in a very low order intake in the second quarter.

Siemens Gamesa will release a new guidance for financial year 2022.

Siemens Gamesa said it aims to achieve revenue within year-on-year revenue growth range of -9 percent and -2 percent , and EBIT pre PPA and I&R costs margin guidance range of -4 percent, including for both now the positive impact of the Asset Disposal.

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