Siemens Energy: No end to the Gamesa disaster in sight - shares lose 30%

Siemens Energy: No end to the Gamesa disaster in sight - shares lose 30%

According to a report by www.deraktionaer.de, Siemens Energy confirmed in an initial statement on media reports about a guarantee from the state that preliminary discussions are being held with various parties to enable access to guarantees. Both partner banks and the federal government are examined. The group has thus confirmed corresponding media reports.

Siemens Energy also commented on operational development. The forecast for the past 2022/23 financial year was confirmed and a positive development is also expected for the new 2023/24 financial year. However, the main focus is on Siemens Gamesa, where the statements are extremely negative. The group is still working on quality issues in the onshore area and ramping up capacity in the offshore business. There are currently no new onshore contracts being concluded for certain platforms and only selective contracts in the offshore sector. Order intake and sales in the new financial year are therefore expected to be below market expectations. The net loss and cash outflow will therefore be higher than expected.

Siemens Energy shares reacted strongly to the statement and recorded a loss of more than 30 percent. This disaster is putting a significant strain on the market and it remains uncertain when the situation will improve. This development confirms the warnings from DER AKTIONÄR, who has been warning about the stock for months and recommends keeping your hands off it.