May 6, 2020 / 5:47 AM / 22 days ago

Siemens Gamesa warns coronavirus impact will shrink profitability further

May 6 (Reuters) - Wind turbine maker Siemens Gamesa said on Wednesday that project delays and supply chain disruptions caused by the coronavirus outbreak would continue to squeeze its profitability after squeezing its margin on second-quarter earnings.

Despite building up a record-breaking order book for equipment and services in demand from companies and countries around the world seeking to limit climate change, its margin on earnings before interest and tax (EBIT) shrank to 1.5% in the January-March period.

That profitability gauge had stood at 7.5% a year earlier. (Reporting by Isla Binnie, Editing by Inti Landauro)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below