We are pleased to announce that Siemens Gamesa minority shareholders approved the capital reduction and as a result the shareholders will receive compensation of €18.05 per Siemens Gamesa share probably mid July. You do not need to take any action in this regard. The payment will be made automatically via your bank mid July.
Please find further information here.
Following the substantial increase in failure rates of wind turbine components, the board of Siemens Gamesa initiated an extended technical review of Siemens Gamesa’s installed fleet and product designs.
The current status of the technical review suggests that in order to reach the targeted product quality of certain Onshore platforms, significantly higher costs will be incurred than previously assumed. Potential quality related measures and the associated costs are currently under evaluation and are likely to be in excess of 1 bn Euro.
We are also reviewing assumptions critical to the existing business plans given productivity improvements are not materializing to the extent previously expected. In addition, we continue to experience ramp up challenges in Offshore.
It is too early to have an exact estimate of the potential financial impact of the quality topics and to gauge the impact of the review of our assumptions on our business plans. However, based on our initial assessment as of today, the potential magnitude of the impact leads us to withdraw the profit assumptions for Siemens Gamesa and consequently the profit guidance for Siemens Energy Group for fiscal year 2023. We maintain our revenue guidance for the Group as well as all our assumptions for Gas Services, Grid Technologies and Transformation of Industry. Further details and quantification will be provided in the context of our regular disclosure for the 3rd quarter of fiscal year 2023.
Conference Call on ad-hoc announcement (Friday, June 23, 2023 - 07:30am (CEST))
You can find a here a recording of the webcast.
- Strong orders, substantially higher revenue, positive Profit before Special items held back by Siemens Gamesa.
- Siemens Energy recorded orders of €12.3bn reflecting 56.3% growth on a comparable basis (excluding currency translation and portfolio effects). The order backlog reached a new record of €102.0bn exceeding the €100bn mark, for the first time.
- Revenue increased by 23.8% on a comparable basis to €8.0bn reflecting growth in all segments.
- Siemens Energy’s Profit before Special items was positive with €41m (Q2 FY 2022: negative €49m). A loss at Siemens Gamesa was more than offset by a strong performance in all other segments, led by Gas Services (GS). Positive Special items of €23m (Q2 FY 2022: negative €54m) were driven by a positive effect of €78m in connection with the “Accelerating Impact” program reported under restructuring costs.
- Siemens Energy reported a Net loss of €189m (Q2 FY 2022: Net loss €256m).