Investor Relations


Siemens Energy to accelerate its journey to deliver profitable growth and fix wind business while maintaining a solid financial foundation 

  • Capitalizing on main energy trends to continue delivering profitable growth in Gas Services, Grid Technologies and Transformation of Industry
  • Clear plan to return profitability at Siemens Gamesa by fixing quality topics in onshore and driving ramp-up in offshore 
  • Prudent resource allocation adhering to stringent capital allocation principles while maintaining a solid balance sheet and financial foundation

At its third Capital Market Day in Hamburg, Germany, Siemens Energy presented a strategic outlook to analysts and investors. The Executive Board outlined a clear path to create shareholder value along three priorities: Deliver on profitable growth, fix the wind business and maintain a solid financial foundation.

  • Businesses representing 70% of revenue well on track to meet mid-term targets 
  • Quality problems at Siemens Gamesa ringfenced, turnaround measures in progress 
  • Strong growth in orders and revenue to finish with a record order backlog of €112 bn 
  • Profit before Special Items of negative €2,776 million, margin at negative 8.9% due to the charges in the wind business 
  • Structure for guarantee facility to support strong order growth agreed with German government, banking partners and Siemens AG 
  • Disposals under execution to strengthen balance sheet

In light of recent media reports regarding talks with the German government, Siemens Energy AG states the following: Siemens Energy financial results for fiscal year 2023 are expected to be fully in line with guidance. The former Gas and Power businesses are expected to continue their excellent performance in fiscal year 2024 and are on track to achieve their mid-term targets (fiscal year 2025). The wind business Siemens Gamesa is working through the quality issues and is addressing the offshore ramp up challenges as announced in the third quarter communication for fiscal year 2023. As Siemens Gamesa is for the time being not concluding new contracts for certain onshore platforms and is applying strict selectivity in the offshore business, order intake and revenue are expected to be lower than market expectations for fiscal year 2024, and net losses and cash outflow are expected to be higher than market forecasts.

The strong growth in order intake, particularly in the former Gas and Power business areas, leads to a rising need of guarantees for long-term projects. Considering this requirement, the Executive Board is evaluating various measures to strengthen the balance sheet of Siemens Energy and is in preliminary talks with different stakeholders, including banking partners and the German government, to ensure access to an increasing volume of guarantees necessary to facilitate the anticipated strong growth.

Siemens Energy’s budgeting process is still ongoing and no decisions in respect to the annual budget 2024 and/or any specific financing measures have yet been taken by the Executive Board. 

Explanations of financial measures used can be found in the Annual Report 2022 of Siemens Energy AG (available at, in particular in Section 2.2.

Siemens Energy AG is also guarantor for the mandatory convertible bond with ISIN DE000A3K81W7 und the bonds with ISIN XS2601458602 and XS2601459162.

Financial Calendar

February 7, 2024Q1 FY2024: Press Conference | Analyst Conference
February 26, 2024 (planned)Annual General Meeting 2024
May 8, 2024Q2 FY2024: Press Conference | Analyst Conference
August 7, 2024Q3 FY2024: Press Conference | Analyst Conference
November 13, 2024Q4 FY2024: Press Conference | Analyst Conference

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