HUTCHINSON, Kan. — Calling it a complex financial year, Siemens Gamesa ended 2021 shaped by healthy long-term demand for wind energy, but also by challenging short-term market dynamics.
Total revenue for the fiscal year ending in October was $11.6 billion, an increase of more than 7%. The numbers were boosted by a 16% increase in offshore projects. The strong momentum in renewables boosted the company’s backlog by 7.6% to $37.5 million.
The company’s performance in FY21 also reflected market imbalances caused by challenging supply chain conditions, with sharp increases in commodity prices, shortages of certain components, logistics bottlenecks and high transportation costs.
The impact of these imbalances was particularly intense during the second half of the year forcing SG to implement rolling furloughs at the Hutchinson nacelle facility and other factories. Those furloughs are expected to last through the end of the year.
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