The company believes that its wind subsidiary will not recover until 2026. Meanwhile, the Spanish government has confirmed that, like the German government, it is negotiating guarantees with banks to “protect the activity of Gamesa”, which is experiencing serious technical problems with its activities. ground platform turbines.
EC | EITB media
A loss of one million dollars was expected and the closing of the fiscal year (runs from October to October) Siemens Energy has resulted in a net loss of 4588 million of euros, caused by the “serious and unexpected setback” suffered by its wind subsidiary, Siemens Gamesa. The figure, announced today via a press release, represents five times the red figure of the previous year (there were 940 million losses).
The German multinational, owner of the former Gamesa located in Zamudio (Bizkaia), has been experiencing serious financial problems for months as a result of the large losses incurred the European wind sector in general. These losses have been exacerbated by turbine failure of its onshore wind turbines (models 4.
This “complicated context” has led the group to conclude an agreement for credit lines from the German government and banks. The German multinational receives guarantees worth 15 billion.
In that line is the Spanish government confirmed that tonight negotiate with the bank trying to get a promotion “possible warranty line” for new Siemens Gamesa contracts. “The future of Siemens Gamesa in Spain is a priority for the government,” sources from the Ministry of Industry, Trade and Tourism said. The ministry led by Héctor Gómez “is in discussions with both the company and potentially interested banks.”
Despite the cash injection, Siemens Energy does not expect this from the wind turbine manufacturer restore the red numbers for practice 2026. However, the group emphasizes that Siemens Gamesa’s “quality issues” have already been defined, “corrective actions” have been defined and “mitigation measures” are being developed.
The company’s president and CEO, Christian Bruch, has pointed out that in a year “of unprecedented challenges”, the multinational has shown that it can turn the situation around, as all companies, with the exception of wind energy, have met or exceeded their targets for the year. For example, the company’s turnover, excluding subsidiary Siemens Gamesa, increased by 9.9% in comparable terms to 31.1 billion euros.
Face against 2024the group plans to put the losses behind it and achieve a net profit of up to 1 billion euros.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
