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Siemens Gamesa doubles its losses between October and December 2022, to 884 million

Siemens Gamesa’s sales reached 2008 million euros, with growth of 9.8% year-on-year.

Siemens Gamesa posted net losses of €884 million in its first fiscal quarter (October-December 2022), thus doubling the negative result of 403 million euros that it obtained in the same period of the previous year, as reported by the company on Thursday, which has specified that its financial performance in this first quarter was affected by the result of the evaluation of its installed fleet.

During its review, the group detected “an upward trend” of the failure rate in certain components, which led to maintenance expenses service and warranty fees higher than previously estimated. The company, which has indicated that this situation mainly affected its services division, ensures that it is already implementing mitigation measures to minimize future impacts

Between October and December 2022, Siemens Gamesa’s sales reached 2008 million euros, with a growth of 9.8% year-on-year.

As of December 31, 2022, the financial debt net of Siemens Gamesa stood at 1925 million euros.

During the first quarter of its fiscal year, Siemens Gamesa signed new orders for a value of 1,609 million euros, a figure 35% lower than that of the same period of the previous year.

Source: Eitb


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