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Siemens Gamesa reports €4.3bn loss

RICHARD HEAP

November 15, 2023

Siemens Gamesa’s €4.3bn loss in 2023 has propelled parent company Siemens Energy to a €2.8bn loss in the 12 months that ended on 30th September.

Siemens Energy revealed the scale of its difficulties in its 2023 financial report today. It said its wind business Siemens Gamesa “remains a major challenge” due to “an unexpected, serious setback” caused by revelations about its turbine quality. Siemens Gamesa has made a €4.3bn loss on revenue of €9.1bn in 2023.

However, the company added that it was making progress to remedy problems with turbine quality, and said sales of its 5.X platform are “still suspended”.

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