Siemens Energy Reports €252 Million Profit Despite Wind Power Challenges

The energy giant's strong quarterly performance highlights growth in other divisions and a record order backlog, offsetting losses from its wind turbine subsidiary Gamesa.

• Siemens Energy posted a €252 million profit for the first quarter of its fiscal year, covering October to December 2024, despite ongoing losses at its wind power subsidiary, Gamesa.
• The company's revenue rose to €8.9 billion during the quarter, driven by strong performance in three of its four business divisions.
• The quarterly profit marks a significant drop from the €1.6 billion reported in the same period last year, which had been bolstered by a one-time gain from a stake sale.
• Siemens Energy's order backlog reached a record €131 billion, reflecting high demand fueled by global energy needs and infrastructure investments.
• CEO Christian Bruch emphasized the company's resilience and market opportunities, particularly in the face of rising global electricity demand and evolving energy markets.

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