The major wind turbine manufacturer Siemens Gamesa has revealed both good and bad financial news for the company. First of all, it has sold a number of southern European development projects for a total of 4.3 billion kroner (580 million kroner) to SSE Renewables, the company announced.
Specifically, these are wind turbine development projects at various stages of development in Spain, France, Italy and Greece, in total, these are projects with a total capacity of 3.9 GW. In addition, there is the possibility of developing up to one GW of solar projects in connection with the various projects.
In addition to the project work, a total of 40 Siemens Gamesa employees are also part of the deal, which also includes the opportunity for SSE Renewables to enter into partnerships with Siemens Gamesa for the delivery and maintenance of turbines for the projects, Siemens Gamesa said.
- Today's announcement demonstrates Siemens Gamesa's capacity to optimize its portfolio of assets and maximize value. Our Southern European project development team has built up an excellent and unique portfolio of wind projects in four countries over the years. As a result, there has been very strong market interest in this portfolio, and we are convinced that SSE will be the right partner to develop these projects and integrate our employees, says Jochen Eickholt, CEO of Siemens Gamesa.
Another loss on the way
However, it is not only good news that Siemens Gamesa has announced. The company has also unveiled the preliminary results for the second quarter of the company's financial year 2021/2022, and it is not good reading.
The figures show a deficit before impairments and restructuring costs of DKK 2.24 billion (EUR 304 million). Revenue is DKK 16.37 billion (EUR 2.2 billion). Among other things, continued problems with the 5X platform are negatively affecting the company. The newly appointed CEO Jochen Eickholt, who took office in March, however, believes in a brighter future.
- In the six weeks that have passed since I took over as CEO, I have asked questions and delved into all parts of the company to gain an understanding of the problems and to come up with solutions for how to address them. As a management team, we are now transforming these insights into a program that will quickly get us back on track towards normal profitability and industry leadership, says Jochen Eickholt.
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