Wind Power Giant Sees Profits Shrink As Competition Heats Up

German-Spanish wind turbine maker Siemens Gamesa is confident it will increase its profit margins in the mid to long term, but its short-term results disappointed the markets on Thursday.  The renewable energy company which has gained traction on stock markets as a popular ESG investment projects an operating margin of 3-5% in the financial year ending September 2021 and 8-10% in the financial year 2023 according to Reuters. Current operating margins are far from these levels. The company reported a negative 6.7% margin for the third quarter…