Siemens Gamesa's second-quarter financial results are far from impressive and not at all satisfactory enough to ensure a sound business with stable earnings going forward. This is the assessment of Jacob Pedersen, head of equity research at Sydbank, to MarketWire after Tuesday's financial results from Siemens Energy. According to the analyst, Siemens Gamesa is still following the plan the company has set to improve its finances after several years of large losses in the wind business.
- However, there is an improvement on the earnings side, and that is what Siemens Gamesa is now chasing. They need to improve earnings after huge losses in the wind business in recent years, says Jacob Pedersen, head of equity research at Sydbank.
Order intake in the quarter was 846 million euros against 875 million euros in the same period last year. According to Jacob Pedersen, this is still a very low level, especially because service orders are also included in the figures. He also points out that Siemens Gamesa has not won any new offshore wind orders during the period and continues to have limited activity within onshore wind. According to Jacob Pedersen, Siemens Gamesa still needs to focus on improving earnings with a goal of reaching break-even at EBIT level in 2026.
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