Siemens Gamesa has withdrawn its financial guidance for 2020 due to uncertainties caused by COVID-19.
The German-Spanish manufacturer said the pandemic is “compounding” challenges already being experienced in India and Northern Europe, with its onshore business likely worst affected.
A slow down in India has been accelerated while delivery of hardware in the latter region is now delayed longer than initially announced in the first quarter of FY2020.
The company said it cannot forecast with “reasonable accuracy” the full financial magnitude of the crisis, which is forcing the mandatory lockdown of manufacturing facilities in some countries.
“COVID-19 disruptions in our supply chain, manufacturing operations, project execution, and commercial activity have primarily affected and adversely impacted the situation in the onshore business,” stated the company.
Manufacturing in Spain and China is back in action but work continues with governments to get work started elsewhere.
“Offshore and service operations might experience some disruptions in the coming months, although these are so far expected to be significantly lower.”
Chief executive Markus Tacke (pictured, right) said: “Siemens Gamesa is proud that during this period of extraordinary disruption our products and services are enabling the uninterrupted supply of clean energy to our homes, hospitals and communities.
“That we have been able to do so is down to the courage, resilience and creativity of our global team working in partnership with our customers and suppliers. I would like to thank them all for their incredible determination and commitment. We know that we face further challenges, but I am confident that working together, we will succeed.”