Siemens Gamesa’s Q2 results were below consensus estimates on revenues but higher on EBIT, which benefitted from favourable developments in Offshore and the Service business. Order intake continued to be strong and resulted in a record order backlog. Although these positive developments were neutralised as the group slashed the upper end of its FY21 revenue guidance by €700m. EBIT-related guidance remained the same. The group also made progress in its Onshore turnaround but it will take its time ....
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A bittersweet Q2 tempers 2021 expectations
- Published:
03 May 2021 -
Author:
Kulwinder Rajpal -
Pages:
3
Siemens Gamesa’s Q2 results were below consensus estimates on revenues but higher on EBIT, which benefitted from favourable developments in Offshore and the Service business. Order intake continued to be strong and resulted in a record order backlog. Although these positive developments were neutralised as the group slashed the upper end of its FY21 revenue guidance by €700m. EBIT-related guidance remained the same. The group also made progress in its Onshore turnaround but it will take its time ....