Siemens Energy has presented a strategic outlook, and the Executive Board outlined a clear path to create shareholder value along three priorities: deliver profitable growth, fix the wind business, and maintain a solid financial foundation.
The wind subsidiary, Siemens Gamesa, has suffered serious setbacks. These challenges overshadowed the solid performance of the other businesses. With a clearly defined action plan based on simplifying the product portfolio, optimising footprint and operations, and strengthening processes and control, Siemens Energy aims to fix the wind business and reach break-even in 2026. The technical review in onshore has identified deficiencies with high impacts on the onshore business, and remediation actions are under preparation. Siemens Gamesa will be focusing its onshore business based on specific criteria, such as supportive regulations and policies and sizeable profit pools, resulting in an optimised footprint. In offshore, Siemens Gamesa will be ramping up production capacity at existing factories to meet customer demand and work through the order backlog. Siemens Gamesa expects to achieve break-even by fiscal year 2026, followed by profitable growth.