Siemens Gamesa Renewable Energy has revised down its forecast for earnings before interest and taxes to €790m from about €900m previously for the year ending September 2017.
The manufacturer said current market conditions and pricing pressure has resulted in the write–down in the value of inventories mainly in the US and South Africa.
Siemens Gamesa said it continues to make “significant progress in its integration and the achievement of the announced synergies of the order of a minimum of €230m”.
The company will release its fourth quarter results on 6 November.
Image: Siemens Gamesa
Siemens Gamesa lowers forecast
New guidance for EBIT for 2017 falls to €790m from €900m previously
By EBS