EnergyWatch

Siemens Energy books Q2 operating deficit worse than forecast

Monday, the German energy group presents a deficit markedly bigger than what analysts had predicted.

Photo: Wolfgang Rattay/REUTERS / X00227

In company's fiscal third quarter, German Siemens Energy made earnings before interest, taxes and amortizations of EUR -429m against an expected deficit of EUR 124m, according to estimates by Bloomberg News.

Revenue came to EUR 7.28bn against a forecast of EUR 7.4bn.

The order book increased by 65% to EUR 9.84bn against guidance of EUR 8.2bn.

Siemens Energy guides for a full-year EBITA margin in the lower end of the interval 2-4%. The ordinary EBITA margin in Q3 was negative 5.9%.

Andreas Nauen gets new job

German chancellor blames Russia for gas turbine fiasco

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Ørsted declines Taiwan tender bid

Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.

Last platform now in position at Tyra site

After completing the voyage from Batam, Indonesia, the process module is now in position in the North Sea. Only one piece is now missing from the reconstruction project at the Tyra site.

Further reading

Related articles

Latest News

See all jobs