Siemens Energy Reviews Wind Business Structure After Swing to Loss

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Updated Nov. 15, 2023 3:11 am ET

Siemens Energy is reviewing the structure of its troubled wind-turbine business and taking measures to strengthen the group’s balance sheet after swinging to a net loss in its fiscal year.

“In a year with challenges, the excellent performance and success of 70% of Siemens Energy’s businesses was offset by difficulties in the wind business,” the Munich-based company said on Wednesday. “To help achieve the turnaround, and return Siemens Gamesa to profitability, the scope of Siemens Gamesa’s activities is currently reviewed.”

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