Siemens Energy Reassesses Wind Strategy After £1.9 Billion Setback ...Middle East

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Siemens Energy Reassesses Wind Strategy After £1.9 Billion Setback
source : OILPRICE ( Middle East ) () 38
Siemens Energy on Monday said problems recently unveiled at its wind turbine unit would cost it £1.9bn (€2.2bn), well short of worst-case estimates but still casting doubt over whether it will keep the struggling business. The charges will inflate Siemens Energy’s net loss more than six-fold in 2023 to £3.9bn (€4.5bn), the company said, as it published third-quarter results showing a record order backlog of £91.3bn (€106bn) euros due to strong demand. The group also cut its sales outlook, and issued a new,…

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