Siemens Energy Shares Slump After Inflation Hits Wind-Power Unit
- Supply-chain disruptions weighing on Siemens Gamesa subsidiary
- Renewable-energy customers are delaying planned investments
An employee performs quality control checks on a constructed wind turbine blade before it is painted at a production factory in Hull, U.K.
Photographer: Matthew Lloyd/BloombergThis article is for subscribers only.
Siemens Energy AG fell the most in six months in Frankfurt after slashing its outlook due to mounting losses at its wind-turbine business, which warned that the soaring cost of raw materials would squeeze margins in 2022.
The German engineering firm said its revenue could slip by as much as 2% this financial year after previously seeing at worst a 1% drop. It also trimmed its operating profit margin forecast to a range of 2% to 4%, from 3% to 5% previously.