|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||25.99 - 26.61|
|52 Week Range||12.00 - 26.61|
|Beta (5Y Monthly)||0.95|
|PE Ratio (TTM)||221.78|
|Forward Dividend & Yield||0.06 (0.25%)|
|Ex-Dividend Date||Jul 28, 2020|
|1y Target Est||N/A|
Siemens Gamesa <SGREN.MC> named new senior executives on Thursday as the wind turbine maker sought to tackle a coronavirus-driven downturn that has led the group to cut its sales outlook for the year by 1 billion euros ($1.18 billion). Despite a widespread shift to renewable energy sources, profiting from making wind turbines has become trickier in recent years as governments move towards competitive auctions for power production. The added impact of coronavirus will be harsher than expected, the company said, with lower turbine sales and slower project execution in northern Europe all contributing to a predicted negative operating margin on full year 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, the company's margin on earnings before interest and tax (EBIT) shrank to 1.5% in the January-March period. The company's bottom line also turned to a net loss in the quarter, but Chief Executive Marcus Tacke said he still believed it had good long-term prospects. "Siemens Gamesa considers that the renewables industry must play a key role in the economic recovery to move towards a sustainable energy model that generates quality jobs," he added.
Spain's health minister denied on Tuesday that authorities had requisitioned 2,000 antibody tests which a workers union said Siemens Gamesa <SGREN.MC> had expected to receive to check whether its staff have been infected with the coronavirus. The Spanish government has previously used its powers under a state of emergency imposed during the coronavirus pandemic to requisition masks and medical supplies from private companies. Asked during a news briefing whether authorities had taken tests bound for wind turbine manufacturer Siemens Gamesa, Health Minister Salvador Illa said the Spanish government had "not requisitioned material from any company".