FRANKFURT (Reuters) -Siemens Energy is banking on further cost cuts and an ongoing ramp-up of offshore wind activities to meet its goal of breaking even at its loss-making Siemens Gamesa unit, executives told analysts on Wednesday after presenting quarterly results. Siemens Gamesa, the company’s wind turbine division, is expected to incur a loss before special […]
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Siemens Energy plans cost cuts, offshore ramp-up to break even wind unit
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FRANKFURT (Reuters) -Siemens Energy is banking on further cost cuts and an ongoing ramp-up of offshore wind activities to meet its goal of breaking even at its loss-making Siemens Gamesa unit, executives told analysts on Wednesday after presenting quarterly results.
Siemens Gamesa, the company’s wind turbine division, is expected to incur a loss before special items of around 1.3 billion euros ($1.5 billion) in 2025, targeting break-even in the following year.
($1 = 0.8634 euros)
(Reporting by Christoph Steitz; editing by Matthias Williams)