Problems with manufacturing faults at Siemens Gamesa forced the parent company to a 4.6 billion euro loss for the fiscal year.shares soared as much as 13% on Wednesday after the German renewables firm raised its forecast for the year and announced that the CEO of its troubled wind turbine unit will be replaced amid"comprehensive restructuring measures."
Strong demand for power grid equipment amid the company's"success" in stabilizing the wind business led Siemens on Wednesday to raise its forecast for the year.For the full year, the company now expects a comparable revenue growth between 10% and 12% and a profit margin before special items between negative 1% and positive 1%. It previously forecast comparable revenue growth between 3% and 7% and a profit margin before special items between negative 2% and positive 1%.
"Going forward, we are going to be active in onshore and offshore. We are going to focus the business on offshore more. We hammer down on the volume product in offshore," he added.for the fiscal year. An investigation into quality issues was launched at the wind turbine division.
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