SGRE’s Q3 results came in below expectations in both revenues and adjusted EBIT. After its profit warning made last month, management provided a new outlook for 2020, which was a bit disappointing in our view. Although there is good potential for recovery in onshore with the new CEO Andreas Nauen and a promising future in Offshore, SGRE has to improve on the execution side. Improvements still need to be done and actions speak louder than words. We remain neutral on the stock.
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Promising offshore, but has to catch up in onshore first
- Published:
30 Jul 2020 -
Author:
Luis Pereira -
Pages:
2
SGRE’s Q3 results came in below expectations in both revenues and adjusted EBIT. After its profit warning made last month, management provided a new outlook for 2020, which was a bit disappointing in our view. Although there is good potential for recovery in onshore with the new CEO Andreas Nauen and a promising future in Offshore, SGRE has to improve on the execution side. Improvements still need to be done and actions speak louder than words. We remain neutral on the stock.