José Benito de Vega | Since the beginning of 2017 Siemens Gamesa (SGRE) shares have performed poorly, falling -20% compared to -1% for the Ibex 35. This is even clearer compared to the maximums of May 2017 since when they have fallen -40% (-11% Ibex 35).
At Siemens Gamesa’s AGM last Friday both the CEO Marcus Tacke, and chairwoman Rose García insisted that there is “no doubt” that Spain will remain the company’s “seat of power.”
Yesterday, SiemensGamesa presented its strategic plan to 2020, baptised L3AD2020. The new strategy is centred on cost savings of 2 billion euros which will allow it recover margins (EBIT/sales) to around the 8/10% level.
Basque wind turbine manufacturer Siemens Gamesa will supply the turbines for Cepsa’s first wind farm in Jerez de la Frontera (Cádiz), the company said on Tuesday.