Siemens Energy has closed its fiscal year (which spans from September 2023 to this September) with profits before special items of 345 million euros thanks to the boost in gas, networks and the transforming industry, whose joint profit rose by 31.39% to 2,377 million euros.
On the other side of the scale is the windmill business, led by Siemens Gamesa; that has been maintained in losses with 1,781 million euros, although it has managed to reduce by more than half what it registered last year, in which it scored 4,347 million euros.
The income of the wind turbine construction company, with roots in the Basque Country, has been hindered by problems with the turbines SG4X and SG5X, two turbine models whose manufacturing problems have led to a significant reduction in sales. For the entire fiscal year, Gamesa’s orders have been reduced by 56.7%, from 16,836 million to 7,256 million this year.
The benefit of Siemens Energy with special games rose to 1,335 million euros, compared to the 4,588 million losses of last year.
Forecasts
Looking ahead to this fiscal year, Siemens Energy expects recover the sale of the SG5X millsafter the SG4X model reappeared on the market at the beginning of September.
For the year 2025, the German energy company predicts comparable growth in the turnover of between 8% and 10% and a profit margin before special items of between 3% and 5%.
Furthermore, Siemens Energy expects to obtain net profits that, excluding the special items of the eventual sale of its business in India (which they value at 1,000 million) “around the break-even point.”
In this sense, the parent company has improved the medium-term growth and profitability objectives for the year 2028 and now intends achieve compounded annual revenue growth on a comparable basis in a high single-digit to low double-digit percentage range through fiscal 2028 (i.e., fiscal years 2025 to 2028).
Regarding the profit margin in fiscal year 2028, they intend reach a range of between 10% and 12%.
#Siemens #Energy #earns #million #fiscal #year #Gamesa #cuts #losses
