, as it published third-quarter results showing a record order backlog of 106 billion euros due to strong demand.
Its shares were 5.6% lower at 1048 GMT, with Jefferies analysts calling the disclosure “very messy,” with a risk of further costs. Others however, including JPMorgan, said the price tag should alleviate fears of an even higher fallout. Siemens Energy CEO Christian Bruch said while the situation at Siemens Gamesa was a “massive setback,” the performance of the group’s remaining units, including gas turbines and power converter stations, provided a silver lining.
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