SGRE’s FY21 results managed to meet the lower end of its guidance. While revenues were in line with consensus, profitability was below it. Raw material price inflation and supply-chain issues affected the second half of FY21. Moreover, these issues are expected to last going into FY22. This is certainly reflected in the guidance, which was below our expectations. Furthermore, profitability in onshore and the ambition of achieving EBIT margins of 8-10% are now pushed to FY24/25 from FY23 before.
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FY21 guidance met, FY22 outlook below expectations
- Published:
08 Nov 2021 -
Author:
Kulwinder Rajpal -
Pages:
3
SGRE’s FY21 results managed to meet the lower end of its guidance. While revenues were in line with consensus, profitability was below it. Raw material price inflation and supply-chain issues affected the second half of FY21. Moreover, these issues are expected to last going into FY22. This is certainly reflected in the guidance, which was below our expectations. Furthermore, profitability in onshore and the ambition of achieving EBIT margins of 8-10% are now pushed to FY24/25 from FY23 before.