Siemens Energy Cuts Outlook as Fresh Problems Emerge at Wind Unit

Siemens Energy Cuts Outlook as Fresh Problems Emerge at Wind Unit
A trader walks next to Siemens Energy AG logos during Siemens Energy's initial public offering (IPO) at the Frankfurt Stock Exchange in Frankfurt, Germany, on Sept. 28, 2020. Ralph Orlowski/Reuters
Reuters
Updated:

FRANKFURT—Siemens Energy on Thursday cut its outlook after wind division Siemens Gamesa warned of prolonged supply chain issues, renewing pressure on the German firm to fully take over the unit in order to get a better handle on its problems.

Siemens Energy, which owns 67 percent in Siemens Gamesa, said it now expects a margin on adjusted earnings before interest, tax, and amortization (EBITA) before special items in a range of 2 percent to 4 percent in 2022, down from 3 percent to 5 percent previously.