Siemens Energy Reports Q2 Losses, But Strong Order Growth and Increased Turnover

2023-05-15 09:08:44

In the first semester, it obtained losses of 787 million euros, 131.8% more

MADRID, 15 May. (EUROPA PRESS) –

The German group Siemens Energy obtained attributable net losses of 204 million euros between January and March, the second fiscal quarter for the company, which represents a 26.7% deepening of the losses compared to the result recorded in the same period of the year. previous, as reported by the multinational.

The turnover reached 8,028 million euros, 22% above the income recorded in the equivalent second quarter, while orders received increased by 56.3% year-on-year, to 12,256 million euros.

Specifically, Siemens gas services increased its revenue by 24.6%, to 2,842 million euros, while the area of ​​network technologies billed 1,743 million euros, 25.9% more. For its part, the industrial transformation division of Siemens saw its turnover grow by 19.9%, to 1,156 million euros, while Siemens Gamesa recorded 2,438 million euros, 12% more.

For its part, total expenses for production, sales, general, administrative and R&D costs amounted to 8,047 million euros, 18.8% more.

Regarding the first fiscal semester of Siemens Energy, the German company obtained attributable net losses of 787 million euros, 131.8% more than in the same period of the previous year, although the turnover grew by 20.4% , up to 15,092 million euros, and received orders increased by 53.9%, up to 24,983 million euros. Expenses rose 20.9% in the six months, to 15,610 million euros.

“The new orders confirm our good position in the markets for energy transition technologies, such as power generation and transmission. Our revised forecast testifies to the strong demand, as well as the persistently challenging conditions in the wind sector,” he said. valued the Chairman and CEO of Siemens Energy AG, Christian Bruch.

For the year as a whole, the company has revised its financial targets upwards due to growth in the first half of the fiscal year “faster than expected”. Thus, Siemens quantifies this advance in revenue in the range of 10-12% compared to the previous forecast of 3-7%. However, the multinational warns that the net losses this year “will exceed the previous fiscal year of 712 million euros.”

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