Czech wind turbine component manufacturer Siag ended last year with a loss of CZK 22.7 million

Chrudim-based Siag CZ, which manufactures steel structures, including towers and components for wind turbines, ended last year with a loss of CZK 22.7 million. However, this was a smaller loss than in the previous year, when Siag posted a loss of CZK 76 million. Revenue from sales of products and services fell from CZK 798 million in 2021 to CZK 722 million last year, the Czech News Agency (ČTK) found in the company’s annual report published in the Collection of Deeds. Last year’s result was affected by an unexpected rise in costs.

„Orders for 2022 had been secured and production was evenly scheduled. From the second quarter of 2022, however, energy prices began to rise sharply. In the third quarter, the price of electricity was more than twice as high as in 2020, while the price of gas was more than three times higher,“ said the company’s commercial proxies Martina Jeřábková, David Souček and Jiří Tatíček.