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Siemens Gamesa Renewable Energy SA SGRE Stock Quote

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Morningstar‘s Stock Analysis SGRE

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Losses Worsen at Siemens Gamesa During Third Quarter; EBIT Guidance Downgraded

Matthew Donen, CFA Equity Analyst

Analyst Note

| Matthew Donen, CFA |

No-moat Siemens Gamesa downgraded its full-year EBIT guidance once again, as a combination of internal execution challenges and macroeconomic conditions saw operating losses deepen in its third quarter. An operating loss of EUR 343 million was recorded during the third quarter, which is the fifth consecutive quarter of operating losses for the group. Unforeseen costs of EUR 113 million due to component failures on onshore turbines led management to revise its full-year EBIT margin guidance to negative 5.5% from negative 4%. Management anticipates operating losses to continue in the following financial year. We anticipate revising our short-term forecasts, but will maintain our EUR 17.50 fair value estimate due to the impending takeover by Siemens Energy.

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Key Statistics SGRE

Company Profile SGRE

Business Description

Siemens Gamesa is a leading manufacturer of onshore and offshore wind turbines. The company is the product of the merger between Siemens Wind Power and Gamesa in 2017. The firm operates in two business segments: wind turbines and services. Siemens Gamesa retained its position as the leading installer of offshore turbines in 2020. Siemens Energy (a recent spinoff from Siemens AG) owns 67% of Siemens Gamesa’s shares.

Parque Tecnologico de Bizkaia, Building 222
Zamudio, 48170, Spain
T +34 944037352
Industry Specialty Industrial Machinery
Most Recent Earnings Jun 30, 2022
Fiscal Year End Sep 30, 2022
Stock Type
Employees 27,382