Cartera de pedidos en máximo histórico
Siemens Energy announced a nine-month period finished with a net profit of 1,588 million euros, rebounding from last year’s losses of 3,718 million euros caused by issues across several platforms of its subsidiary Siemens Gamesa. The company also projected annual net profit near 1,000 million euros, signaling the first profitable year for the group in the forecast.
From October to June, group revenue totaled 24,724 million euros, marking a 9.4 percent increase versus the same span a year earlier. The business benefited from the ongoing energy transition, achieving record orders in Gas Services and a peak order book in both Gas Services and Grid Technologies.
Orders in Gas Services more than doubled year over year, while Siemens Energy’s overall orders declined relative to a high prior comparison level, largely due to Siemens Gamesa.
In a separate note, the order backlog rose to an all-time high of 120,000 million euros, reflecting a 29.6 percent decline on a like-for-like basis when excluding currency effects and backlog movements. In the third quarter, revenue grew by 18.5 percent on a comparable basis to 8,800 million euros, led notably by Grid Technologies, Transformation of Industry, and Siemens Gamesa.
During the quarter, Siemens Energy posted a net loss of 102 million euros, a substantial improvement from losses of 2,931 million euros in the same period a year earlier. The company, which divested its India business in the first quarter, reaffirmed full-year targets for comparable revenue growth of 10 to 12 percent and a net profit of up to 1,000 million euros, including impacts from disposals and the acceleration of its portfolio transformation.
Siemens Gamesa trims losses to 463 million
The wind division, Siemens Gamesa, continued to weigh on the group’s results with a loss of 463 million euros, a significant improvement from 2,561 million euros a year earlier.
In fiscal year 2023, Siemens Energy reported net losses of 4,588 million euros, influenced by wind-related challenges and by Siemens Gamesa, which posted losses of 4,347 million euros. The main causes included quality issues in onshore wind activities, combined with rising costs and capacity expansion challenges in offshore wind projects.
Last February, Siemens Energy announced a leadership change at Siemens Gamesa, naming Vinod Philip as CEO effective August 1 to drive restructuring and a long-term growth plan for wind. Siemens Energy’s chief executive, Christian Bruch, stressed that growing energy markets require a broad product mix and that transmission and gas turbine activities are benefiting in particular. He added that margins have improved alongside a growing order book, and that the company remains optimistic about meeting annual forecasts after nine months.
Sources: Company disclosures and market briefings used for context. [Attribution: Siemens Energy quarterly results briefing].