BERLIN (dpa-AFX) - Siemens Gamesa Renewable Energy S.A., a separately listed and fully consolidated subsidiary of Siemens Energy AG (SMEGF.PK SMNEY.PK), expects group revenue for financial year 2021 to be at the low end of the prior estimation of 10.2 billion euros - 10.5 billion euros.
Siemens Gamesa Renewable Energy group EBIT margin pre Purchase Price Allocation (PPA) and before Integration & Restructuring (I&R) costs for financial year 2021 is adjusted to a range of 0% to -1%.
Siemens Gamesa Renewable Energy reported preliminary third-quarter EBIT pre PPA and I&R costs of about negative 150 million euros and revenue of 2.7 billion euros.
Siemens Energy, however, confirmed its outlook for the Gas and Power segment for fiscal year 2021. it is still expected nominal revenue growth of 2% to 6% and an Adjusted EBITA margin before special items of 3.5% to 5.5%.
Siemens Energy confirmed its group revenue guidance. It expects nominal revenue growth of 3% to 8%.
Due to Siemens Gamesa Renewable Energy's significantly lower profit expectations, Siemens Energy does not expect to reach the low end of its group margin guidance for the full year of 3% to 5%.
Siemens Energy's Gas and Power segment is performing in line with expectations. Due to Siemens Gamesa Renewable Energy's preliminary third-quarter results, Siemens Energy third-quarter results are unlikely to meet current market expectations.
Siemens Energy said it will publish its full earnings release for the third quarter of fiscal year 2021 on August 4, 2021.
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