Financial News

 

Offshore Wind: Orsted Earnings, Shares Dented by Lower Wind Speeds, Cable Problems

Apr 29, 2021

Lower wind speeds and cable problems hit first-quarter earnings at Denmark's Orsted , sending shares in the world's biggest offshore wind farm developer lower on Thursday.Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 4.9 billion Danish crowns ($799 million), missing analysts' consensus forecast of 5.2 billion crowns.However, Chief Executive Mads Nipper said the company's operational performance 'was good during Q1 2021 and slightly exceeded our expectations'…

SABIC Profits Soar, 2H Looks 'Strong' Too

Aug 05, 2021

Petrochemicals giant Saudi Basic Industries Corp (SABIC) swung to a $2 billion quarterly profit and said it expects solid performance to continue in the second half of 2021, backed by healthy demand and rising oil prices.SABIC, the world's fourth…

SBM Offshore Eyes Offshore Wind Project Opportunities

Aug 05, 2021

Oil and gas services company SBM Offshore on Thursday reported a better than expected decline in core profit for the first half of 2021 as it looks to develop floating offshore wind projects.After reducing spending sharply in the face of a pandemic-induced demand collapse…

Siemens Energy CEO Buch Calls Wind Division Problems 'Extremely Annoying'

Aug 04, 2021

Siemens Energy cranked up the pressure on wind turbine division Siemens Gamesa on Wednesday, saying it was 'extremely annoying' that it was having to reduce its profit outlook as a result of the Spanish-listed unit.The comments from CEO Christian…

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