MADRID: Wind turbine maker Siemens Gamesa said its profit margins are set to rebound after a slump exacerbated by the pandemic and its onshore unit should break even in 2022, but its short-term targets disappointed financial markets.
Siemens Gamesa last month reported a net loss of 466 million euros for its third quarter, April-June, versus a 21 million euro profit a year earlier. The company said it expects group revenue of between 10.2 billion euros and 11.2 billion euros in financial 2021, which ends in September 2021.
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