Siemens Gamesa : Persistent difficulties
>Pending the offer from Siemens Energy (Neutral vs Outperform) - Following the release of the Q3 2022 results (quarter ending 30 June), we lower our earnings forecasts. The upturn in profitability will take time even though sector fundamentals have improved due to geopolitical tensions and Europe's determination to secure its energy supplies. This strengthens the pipeline of potential projects, even though the question of how fast margins will recover remains unanswer...Siemens Gamesa Renewable Energy is a holding company. Through its subsidiaries, Co. is engaged in the business of renewable energy sources, primarily wind power but also including solar energy where its acts as a supplier and manufacturer of technological products, installations and services. Co. is organized along the lines of: promotion, construction and sale of wind farms, engineering, design, manufacture and sale of wind turbines, manufacture of thermic and photovoltaic solar components, promotion and sale of photovoltaic solar farms. Co. also participates in both Spanish and European working groups aimed at establishing priorities for its sector's research & development work.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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