Siemens Energy will not meet the lowest margin forecast for Reuters

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© Reuters. PHOTO OF THE FILE: A trader walks next to the Siemens Energy AG logos on Siemens Energy’s initial public offering (IPO) on the Frankfurt Stock Exchange, Germany, on September 28, 2020. REUTERS / Ralph Orlowski / File Photo
FRANKFURT (Reuters) – Siemens Energy will not meet its bottom line of profit margins this year, behind the rise in raw material and product costs higher than expected after a warning was given to its wind division.
Siemens Energy previously expected an adjusted profit margin, with interest, taxes and amortization before special items 3-5% in the current fiscal year ending September.
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