Christian Bruch, the chief executive of Siemens Energy, the parent of Siemens Gamesa Renewable Energy (SGRE), said the weak performance of the wind turbine unit has dragged down overall company results.

“We are not satisfied with the performance of SGRE which suffered a significant setback in the turnaround of the onshore business,” Bruch said in a note on Siemens Energy earnings.

“This does not change the attractive market fundamentals for Siemens Energy, however due to the headwinds at SGRE we do not expect to reach the low end of the group margin guidance for the full year.”