EnergyWatch

Siemens Gamesa makes big cut in forecast

Ahead of its annual report release, the turbine manufacturer is downgrading its guidance for the result by more than EUR 100 million, but it is not because of the weak Indian market.

Photo: Siemens Gamesa

This year will not bring the successful debut to the market that merged Siemens Gamesa had hoped for.

Before releasing its fourth quarter report on Nov. 6, the turbine maker is downgrading its expectations for the fiscal year 2016/2017 by EUR 110 million to an underlying EBIT result of around EUR 790 million. Meanwhile, the estimated EBIT margin is being reduced from at least 8 percent to around 7 percent, report Siemens Gamesa.

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