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Siemens Energy cuts outlook as fresh problems emerge at wind unit -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A trader stands next to the Siemens Energy AG logos at the Frankfurt Stock Exchange, Frankfurt, Germany on September 28, 2020. REUTERS/Ralph Orlowski/File Photograph

FRANKFURT, (Reuters) – Siemens Energy cut Thursday’s outlook following warnings from Siemens Gamesa about prolonged supply chain problems. This renewed pressure on Germany to take full control of the unit to address its issues.

Siemens Energy owns 67% of Siemens Gamesa. It stated that it expects an increase in adjusted earnings before tax, amortisation and amortization (EBITA), which is a decrease from the 3% to 5 percent previously.

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