February 4, 2020 / 11:48 AM / 14 days ago

Siemens Gamesa CFO says Brexit deal prospects could improve profitability

FILE PHOTO: A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio, Spain, June 20, 2017. REUTERS/Vincent West/File Photo

MADRID (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) may nudge its profitability guidance upwards if prospects remain that Britain will agree an orderly exit from the European Union, its Chief Financial Officer said on Tuesday.

The company, which owns a factory in the northern British town of Hull, had factored the potential of a hard Brexit when it set its guidance, CFO David Mesonero told reporters on a conference call.

“We consider now we could benefit slightly from this new kind of Brexit scenario, so in that regard we confirm the mid-point of the guidance as the most likely scenario but also with a potential positive outcome compared with what we were seeing three months ago.”

Reporting by Isla Binnie, Editing by Inti Landauro

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