A few weeks ago, Siemens Gamesa revealed a large loss of 760 billion euros (EBIT), equivalent to approximately 5.65 billion kroner, in its preliminary figures for the first quarter of the postponed financial year 2022/2023. The loss came from a turnover that otherwise increased by almost ten percent and ended at two billion euros. The company confirmed the preliminary figures in its final accounts for the first quarter on Thursday.
According to the wind turbine manufacturer, the large loss can be attributed in particular to a component fault that has been discovered in several turbines that have already been installed, which is leading to an increase in complaints and service costs. That fault alone, Siemens Gamesa expects, will have a negative impact on the result of 472 million euros - approximately 3.5 billion kroner.
- The negative development in our service business emphasizes that we have a lot of work ahead of us to stabilize our business and return to profitability. But despite the extremely challenging macroeconomic and geopolitical context in which we find ourselves, we have seen progress in other areas, such as with our Siemens Gamesa 5.X platform, thanks to our Mistral program, says Siemens Gamesa CEO Jochen Eickholt.
The Mistral program is a strategic program that Siemens Gamesa launched last year with the aim of creating more stable and profitable operations. In addition to the improvements on the problem-ridden 5.X platform, Siemens Gamesa can also be pleased that the manufacturer has succeeded in obtaining higher prices for the turbines they sell.
The average price per MW has thus increased to 0.95 million euros, which is significantly higher than the average price in the same quarter the previous year, which was 0.76 million euros. But despite the higher settlement price, it is still red numbers that dominate the bottom line.
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