[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


Subscribe to RSS feed

Add NWW headlines to your site (click here)

Sign up for daily updates

Keep Wind Watch online and independent!

Donate $10

Donate $5

Selected Documents

All Documents

Research Links


Press Releases


Publications & Products

Photos & Graphics


Allied Groups

News Watch Home

Siemens Energy shares hit record low as sell-off continues  

Credit:  Reporting by Christoph Steitz Editing by Miranda Murray, David Goodman and David Evans | Reuters | January 24, 2022 | www.reuters.com ~~

Shares in Siemens Energy (ENR1n.DE) hit a record low on Monday as a sell-off triggered by problems at its wind power division Siemens Gamesa (SGREN.MC) continued following a HSBC downgrade.

Siemens Energy’s stock fell as much as 6.9% to 17.805 euros per share, its lowest since the company was spun off from former parent Siemens AG (SIEGn.DE) and listed separately in September 2020.

On Friday Siemens Energy shares recorded their biggest intraday loss after Siemens Gamesa, in which it owns a 67% stake, cut its financial outlook for the third time in nine months owing to supply chain issues and costs related to a new generation of onshore wind turbines.

The move also forced Siemens Energy to cut its outlook and has exposed the problematic stakeholder structure that gives Siemens Energy a majority stake in a business it effectively cannot control.

Since the profit warning Siemens Energy has lost 3.6 billion euros in market value, about the same amount it would currently cost to buy the third in Siemens Gamesa it does not yet own.

“Investors are increasingly frustrated at the challenges around the Siemens Energy … portfolio,” HSBC wrote, downgrading Siemens Energy to “hold”.

Shares in Siemens Gamesa, meantime, rose 2% after Deutsche Bank upgraded the stock to “buy” on hopes that Siemens Energy will buy out minority shareholders.

Source:  Reporting by Christoph Steitz Editing by Miranda Murray, David Goodman and David Evans | Reuters | January 24, 2022 | www.reuters.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Funding
Donate $5 PayPal Donate


News Watch Home

Get the Facts
© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.