Annual Press Conference 2023

Press release 15. November 2023

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

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