Siemens Energy’s president and CEO, Christian Bruch, has assured that they remain focused on “resolving the quality issues of their onshore wind activities” and “capitalizing on the growth of the rest of the areas.”
Siemens Energy achieved a net profit of 1582 million euros in the first quarter of its financial year (from October to December), compared to a loss of 598 million euros in the same period of the previous year.
The profits during the period of the German energy group, owner of the wind turbine manufacturer Siemens Gamesa, were boosted by the sale of its 18% stake in its Indian subsidiary to parent company Siemens AG for €2.1 billion. In this sense, the president and CEO of Siemens Energy, Christian Bruch, has assured that they “remain focused on solving the quality issues of their onshore wind activities” and “benefit from the growth of the rest of the areas.”
This result came despite Siemens Gamesa’s wind business continuing to accrue losses red figures of 426 million euros in this first quarter, a figure that has almost halved compared to the 759 million euros of a year ago. However, between October and December 2023, the Basque company’s turnover grew by 4.8% to 2,043 million.
Siemens Energy’s sales amounted to €7,649 million, an increase of 12.6% on a comparable basis, mainly driven by the Grid Technologies segment.
The German company has three factories in the BAC (Zamudio, Asteasu and Mungia) – a workforce of 1,011 employees – and another two in Navarra (Sarriguren and Arazuri) – 1,823 employees.
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.
