The restructuring of Siemens Gamesa (SG) will mean a cost cut of 400 million until 2026. At the end of that year, the 100% subsidiary of Siemens Energy (SE) should abandon losses, after registering Red numbers of 4,347 million in 2023, which will be 2,000 million next year, according to the estimates of the German corporation.
In a meeting with analysts, the CEO of SE, Christian Bruch, defined the results of the wind turbine manufacturer as “absolutely unsatisfactory”, but “the necessary changes will be made” for its return to profitability. Without specifying possible layoffs and plant closures in a company with factories in a dozen countries (nine of them in Spain). The CEO of Siemens Gamesa, Jochen Eickholt, did identify the Ágreda (Soria) and Vagos (Portugal) facilities as the sources of the technical problems that have affected the land turbine 5.Xdesigned to reach a unit capacity of 7 MW, the largest in the world in this renewable segment.
Blades are produced in the Portuguese plant and the turbines are assembled in Ágreda, which are then exported 70% outside of Spain. Both Bruch and Eickholt guaranteed that Europe is a priority market for Siemens Gamesa, although they want to continue selling turbines in other areas such as India and the United States, the CEO of Siemens Gamesa gave as an example. So we will have to wait to find out where that savings of 400 million is obtained.
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