In times of geopolitical and macroeconomic challenges, Siemens Energy demonstrated resilience. Its Gas and Power segment (GP) delivered a solid performance characterized by strong orders and increased profitability year-over-year. However, Siemens Energy’s overall performance was held back by the negative development at Siemens Gamesa Renewable Energy (SGRE). Siemens Energy largely met its adjusted guidance. While the Adjusted EBITA margin before special items fell slightly short of expectations, Siemens Energy recorded a lower-than-expected net loss and a significantly higher free cash flow pretax.
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 92,000 people worldwide in more than 90 countries and generated revenue of €29 billion in fiscal year 2022.