Siemens Energy and Gamesa face challenges with Q2 losses and adjusted outlook.
Siemens Energy's full-year financial performance expectations have been muted due to ongoing issues at wind turbine giant Siemens Gamesa, which widened its loss for the group's second quarter to €374m ($406m) before special items from a deficit of €301m a year earlier. Siemens Gamesa's profitability is being burdened by inflation, supply chain challenges, ramp-up of offshore activities, and onerous projects. The turbine manufacturer is continuing to implement a turnaround plan to address these challenges.