Siemens Energy shares plunge 37% on wind turbine problems
[ad_1]
On June 22, the company announced that after checking a subsidiary Siemens Gamesas found “a significant increase in the failure rate of wind turbine components”. By data Reuters, we are talking about problems that affect 15 to 30% of the turbines, the total wind capacity of which is equivalent to 132 nuclear power plants.
The cost of work to eliminate these problems is now estimated at more than 1 billion euros. As a result, the parent company withdrew its earnings guidance. Siemens Gamesas and, as a result, the profit forecast for the entire group for the 2023 financial year. According to Reuters, the market value of the company as a result of this may decrease by a third.
It is clarified that now the main problem is defects in the rotor blades and bearings, which in the future can lead to both cracks and failure of components that will need to be replaced.
Siemens Energy shares fell to a low of $14.55 on June 23 after opening at $18.8. By 20:05 Moscow time, they rose to $14.8 (-25.37% to the closing price on June 22). European wind turbine makers Nordex and Vestas also tumbled on the back of the news.
Last year “Inter RAO» acquired shares Siemens Energy in Russian enterprises. In particular, in September, Inter RAO bought the Voronezh Transformer plant, as well as a 65% stake in Siemens Gas Turbine Technologies in the Leningrad Region (the remaining 35% belong to Power Machines). Thus, the German company sold its business in Russia.
[ad_2]
Source link
