Monday, March 4

Siemens Energy shocks with forecast reduction

The sales development compared to the previous year, adjusted for currency translation and portfolio effects, will be between minus two and plus three percent in 2022

Siemens Gamesa Renewable Energy/a>, late Thursday evening with. So far, Siemens Energy had assumed minus one to plus three percent.

With regard to the adjusted EBITA margin (earnings before interest, taxes, depreciation and amortization) before special items, the company is now assuming plus two to plus four percent (previously +3 to +5%). The corresponding forecast for 2023, which has so far been between 6.5 and 8.5 percent, is also to be reviewed.

This did not go down well on the stock exchange. On the Tradegate trading platform, the Siemens Energy share price fell by three percent in an initial reaction. Siemens Gamesa lost two and a half percent.

In the first quarter of the 2022 fiscal year, sales at Siemens Energy fell by 11.4 percent compared to the same period last year to almost 6 billion euros. The analyst consensus given by the company was 6.3 billion euros. Order intake increased by 10.1 percent to 8.3 billion euros. Here the experts had expected less.

The adjusted EBITA before special items was minus 63 million euros (previous year: 366). The mark was minus 1.1 percent (previous year: +5.6). Experts, on the other hand, had expected a positive result.

The subsidiary Siemens Gamesa also failed to meet market expectations overall. In addition, the wind power expert also lowered its expectations for the year as a whole. The company now expects sales to fall by two to nine percent. Previously, a minus of two to seven percent had been expected.