Siemens Gamesa Lowers 2020 Guidance on Project Delays in Norway

By [email protected] Siemens Gamesa Renewable Energy, a leading global wind turbine manufacturer, cut its full-year margin guidance for 2020 due to “one-off” project delays in Norway.

SGRE, the world’s second-largest wind turbine supplier, warned investors last week that 1.1 gigawatts’ worth of projects had been delayed and the company would take a €150 million ($166 million) hit in the first quarter.

In announcing its Q1 results on Tuesday, the Spain-based company trimmed its EBIT margin guidance for 2020 by one percentage point, to a range of 4.5 to 6.0 percent. It held revenue guidance at €10.2 billion to €10.6 billion.

Siemens Gamesa said it has

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