Siemens Energy’s growing wind woes will have wider repercussions. The $13 billion German group unveiled on Monday a 2.2 billion euro ($2.4 billion) charge because of quality issues linked to its troubled wind turbine unit Siemens Gamesa. The charges will lead to a net loss of 4.5 billion euros for the fiscal year to the end of September 2023, more than three times what Jefferies analysts had expected.
on Monday a 2.2 billion euro charge because of quality issues linked to its troubled wind turbine unit Siemens Gamesa. The charges will lead to a net loss of 4.5 billion euros for the fiscal year to the end of September 2023, more than three times what Jefferies analysts had expected.in June, also linked to malfunctioning turbines, erased a third of Siemens Energy’s stock market value.
Bruch says he is now prioritising the profitability of Siemens Gamesa, implying a pause over plans to add more wind capacity. That’s fair from a business point of view. But a dramatic dial-back may compromise renewable goals . Global turbine installations have already dipped 20% last year from 2021 levels, and are 32% below 2020, a record year. Although Siemens has been an outlier in its problems, Bruch’s concerns may be felt more widely.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Siemens Energy books $2.4 bln in charges for wind turbine issuesSiemens Energy on Monday said problems recently unveiled at its wind turbine unit would cost it 2.2 billion euros ($2.4 billion), well short of worst-case estimates but still casting doubt over the future of the business.
Consulte Mais informação »
Siemens Energy's shares slump as wind-turbine issues may cause $5 billion lossSiemens Energy shares fell as much as 7% on Monday in volatile trade as the conglomerate warned of a €4.5 billion ($4.95 billion) annual loss due to trouble...
Consulte Mais informação »
Breakingviews - Indian lenders’ earnings get credit reality checkA near three-fold jump in net profit did little to cheer State Bank of India investors. Shares in the country’s largest lender fell 3% on Friday after it reported new bad loans doubled to $926 million during the three months to June from the previous quarter.
Consulte Mais informação »
Breakingviews - Byju’s blowup makes its investors look badByju’s says it provides learning programs to over 150 million students. The biggest lesson may be for the Indian education giant’s global investors including Prosus and Peak XV, formerly part of Sequoia, who watched founder power run amok in a country they have pinned high hopes on.
Consulte Mais informação »
Breakingviews - Saudi’s swelling fund has scope for foreign bingeSaudi Arabia’s big sovereign wealth fund is getting bigger. The Public Investment Fund’s assets under management swelled to 2.23 trillion riyals ($603 billion) in 2022 from 1.98 trillion riyals the year before. The increase was due to a rise in domestic investments rather than international ones. Yet the fund’s ambitious growth targets mean dealmakers and fund managers cannot afford to ignore Riyadh.
Consulte Mais informação »
Breakingviews - Sweaty Europe can kill two birds with one pumpEurope’s sweltering summer has focused attention on its building stock. Responding to the continent’s 40 degree Celsius (104 Fahrenheit) temperatures means cutting carbon emissions from gas heaters, while rolling out ways to efficiently cool residences and offices amid an “era of global boiling”. What may be less immediately obvious is that heat pumps are the best way to do both.
Consulte Mais informação »