Tuesday, February 20

Siemens Gamesa, at risk of falling to 10 euros: It looks pretty bad

Strong cuts for Siemens Gamesa within the Ibex 35. At this time, 14.43% is left at 16.21 euros.

Siemens Energy cut its outlook on Thursday after wind power division Siemens-Gamesa warned of protracted supply chain problems, renewing pressure on the German company to fully take over the unit in order to better control its problems.

Siemens Energy, which owns 67% of Siemens Gamesa, said it now forecasts a margin on adjusted earnings before interest, taxes and amortization (EBITA) before special items in a range of 2% to 4% in 2022, compared to 3% to 5% above.

From the technical point of view, yesterday he was trying to retaliate from the downside pressure, bouncing to areas of 19.36 euros, but before this new reduction, since the company is conditioned by the prices of raw materials, especially steel, it is being penalized.

“It looks pretty bad,” says Diego Morín, from IG. Right now the value is still supported by the 16,10 euros, but it is hanging by a thread, because if it closes below that level today it can go to the next sideways range (as seen on the chart above), ranging from 15 to 10 euros.