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Siemens writes down value of Siemens Energy by EUR 2.8bn

Siemens owns a 40% stake in Siemens Energy, which has a total market value of EUR 10.2bn.

Photo: Siemens Energy

German conglomerate Siemens has announced a writedown of Siemens Energy by EUR 2.8bn in Q3, according to a press release.

The Siemens Energy share price has dropped almost 40% in 2022, closing at EUR 13.99 Thursday, which Siemens considers to be ”well below” the book value.

Siemens owns a 40% stake in Siemens Energy, which has a total market value of EUR 10.2bn.

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