Siemens Gamesa confirmed its disappointing Q3 release today with project-related provisions making a considerable dent into the full year guidance. Not only this, the impact could well flow into the next year and we may not see the profitability levels of 8-10% in 2023. Additionally, high raw material prices will only add insult to the injury. So, we will watch the upcoming developments very closely and will not be surprised if there is another negative along the way.
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Provisions mar Q3 but medium term also affected
- Published:
30 Jul 2021 -
Author:
Kulwinder Rajpal -
Pages:
2
Siemens Gamesa confirmed its disappointing Q3 release today with project-related provisions making a considerable dent into the full year guidance. Not only this, the impact could well flow into the next year and we may not see the profitability levels of 8-10% in 2023. Additionally, high raw material prices will only add insult to the injury. So, we will watch the upcoming developments very closely and will not be surprised if there is another negative along the way.