Siemens Gamesa seeks to cut costs
Siemens Gamesa’s losses deepen on rising costs
Turbine prices must rise to reflect manufacturers’ costs or risk impact on transition, says CEO
Wind turbine manufacturer Siemens Gamesa has revised down its earnings forecast for this year after reporting deepening losses for the third quarter as rising costs squeeze its profit margins in an “extremely challenging” market. The Spanish-German company expects a 5.5pc drop in Ebit for the full year, compared with a previous projection of a 4pc drop. Third-quarter Ebit showed a loss of €343mn ($350mn) compared with a €304mn loss in the previous quarter and a €151mn loss in the third quarter of 2021. The implied Ebit margin in the third quarter was minus 14pc. “Siemens Gamesa’s performance continued to be negatively affected by volatile market dynamics—inflation of energy, raw material and
Also in this section
10 June 2025
Eni’s CCUS deal with BlackRock’s Global Infrastructure Partners reflects a growing belief among big investors in the CCUS growth story
3 June 2025
Africa faces challenges in adopting CCS but also has vast potential, with the technology being not just a climate tool but a catalyst for development
2 June 2025
Rather than a simple climate option, CCS is now being seen as a workable solution for Africa’s growth strategy
27 May 2025
EU Parliament and Council both agree to exempt bulk of importers from paying a carbon tax on goods imported into the EU
