The multinational’s goal is to simplify the organization and optimize total costs to reach break-even by 2026.
Siemens Gamesa, the renewable energy subsidiary of Siemens Energy, plans to make an adjustment of approximately 400 million euros to simplify the organization, optimize total costs and “achieve break-even by the fiscal year 2026, followed by profitable growth”.
In this sense, the Chief Financial Officer of Siemens Energy, María Ferraro, has assured that correcting the situation at Siemens Gamesa is “necessary” for Siemens Energy.
According to the German multinational, Siemens Gamesa will focus in this way onshore or terrestrial wind activities based on specific criteria, such as supportive regulations and policies and large benefit pools that will result in an optimized footprint.
In the offshore or offshore wind activitiesthe company said its wind subsidiary is increasing production capacity at existing plants to meet customer demand and respond to the order book.
Siemens Energy has increased its net losses in the 2023 financial year to a record 4,588 million euros, representing more than six times the ‘red figures’ of 712 million euros compared to the previous year, affected by the problems in its wind energy sector and on Siemens Gamesa.
These problems led the group to seek an agreement to access credit lines from the German government, its parent company Siemens AG and the bank to ‘save’ the company and support strong order growth.
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.
