The German group booked €128m ($171m) of charges in its most recent third quarter, the latest in a string of one-off hits its Power Transmission unit has taken over delays to the gird-link work for network operator TenneT.

Kaeser said there is “no quick fix” to the operational issues facing the Power Transmission business, but a new management team is making progress and the four North Sea projects under execution have at least reached a less risky phase.

Overall,