Wind turbine heavyweight Siemens-Gamesa in trouble

The world’s largest wind turbine manufacturer, Siemens-Gamesa, has downgraded its business prospects without specifying the reasons for the adjusted prognosis, the Frankfurter Allgmeine Zeitung reports. The German-Spanish company that merged about half a year ago has corrected its ebit (earnings before interest and taxes) outlook for the last quarter of the current business year to 790 million euros, after 945 million euros in the same period last year. “Difficult market conditions in the wind turbine business due to new tender schemes with prices close to open market levels, fierce competition and margin pressure are reasons for the visibly deteriorated situation,” the newspaper says. 

See the CLEW factsheet German onshore wind power – output, business and perspectives for more information.