EnergyWatch

Siemens Gamesa's Nordic problems grow

The manufacturer withdraws its annual guidance after the coronavirus has added problems - particularly to the already challenged Indian and Nordic markets.

55 of 77 planned wind turbines are installed at the Sødre Bjerkreim cluster Photo: Norsk Vind

(Updated 4-23-2020 09:00 CET with information from Siemens Gamesa that blade factory in Halol reopened Wednesday)

2020 was already set to be sluggish year for Siemens Gamesa. Three months into the staggered fiscal year, running from from October to September, the wind turbine maker had already lowered its annual outlook twice to an EBTIDA margin of 4.5-6 percent from the initial spread of 8-10 percent. Now the covid-19 pandemic has prompted the group to completely retract this year's guidance.

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