HUTCHINSON, Kan. — Siemens Gamesa completed a challenging third quarter of financial year 2021 with a backlog worth $50 billion, $1.1 billion more than a year earlier.
This order book shows that Siemens Gamesa may be able to get back into forward motion after a soft first nine months of the year, but there are roadblocks. The company’s back order book is being hindered by higher steel prices and overall inflation. The company is also showing signs of slowing down as order intake fell by more than 70%.
The company took in a record amount of orders in the second quarter especially in the offshore market. Also, a large number of possible projects are in the works for 2022.
SG showed a loss of $179 million in the third quarter. While the numbers were in the red, they were not as bad as the 2020 numbers during the pandemic when supply line breaks forced the company to layoff workers at the nacelle plant here in Hutchinson. The layoffs were short lived, as workers returned several weeks later.
With so many unknowns the company lowered its year end projected revenue to between $12 billion and $12.4 billion.
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