Siemens Gamesa has recorded a loss of around €304m in its fiscal-year 2022 second quarter.
This is due to issues with the ramp up of the 5.X onshore turbine platform the manufacturer has now said are “more complex than previously understood”.
The German-Spanish company said its pre PPA and I&R costs EBIT performance, which has forced it to withdraw full-year guidance published on 20 January, was “severely impacted” by product and execution issues mostly related to the model in preliminary results published on Tuesday night.
Production and profitability at the company have also continued to be impacted by further pressure on energy, commodities and transportation costs, availability of key turbine components, harbor congestions.
Delayed customer investment decisions “that are also affecting temporarily our Onshore commercial activity” was “reflected in a very low order intake in the second quarter”, added Siemens Gamesa. €1.2bn of orders were confirmed during the last three months with revenue of around €2.2bn.
Chief executive Jochen Eickholt said: “In the six weeks since taking over as CEO I have been asking questions and drilling down into every part of the business to get an understanding of the issues and coming to conclusions about how to address them.
“As a management team, we are now turning these insights into a program that can quickly get us back on track towards profitability and industry leadership.”