MADRID (Reuters) – Wind turbine maker Siemens Gamesa SGREN.MC said on Thursday it expected to steadily fatten margins over the next three years, even though a timid return to operating profit in the fourth quarter was not enough to save it from an annual loss.
Beset by a slowdown in the Indian market, cost overruns in Northern Europe and disruptions linked to COVID-19, the German-Spanish company reported a net loss of 918 million euros ($1.08 billion) for its fiscal year ended September.
($1 = 0.8522 euros)
Reporting by Isla Binnie; Editing by Himani Sarkar
source: reuters.com