Myfxtools
  • Login
  • Expert Advisors
  • Forex Signals
    • Best Forex Signals
  • Forex Brokers
  • Forex Trading
    • Forex Guides
    • Analytical Tools
    • Charting Software
  • Crypto Trading
  • Portfolios
No Result
View All Result
  • Expert Advisors
  • Forex Signals
    • Best Forex Signals
  • Forex Brokers
  • Forex Trading
    • Forex Guides
    • Analytical Tools
    • Charting Software
  • Crypto Trading
  • Portfolios
  • Login
Myfxtools
Home News

Siemens Energy Lowers Outlook for Fiscal 2023

by Myfxtools
August 8, 2023
in News
Share on TwitterShare on Facebook

Siemens Energy has revised its fiscal 2023 outlook due to significant challenges faced by its wind-turbine business, which will result in a cost of €2.2 billion ($2.4 billion). The German energy company now anticipates a net loss of approximately €4.5 billion for the fiscal year, with a profit margin before special items expected to range between -10% and -8%. Despite this setback, comparable revenue growth is projected to be between 9% and 11%. Additionally, free cash flow before tax is estimated to reach a negative low triple-digit million amount.

Challenges at Siemens Gamesa

Siemens Gamesa attributes a majority of the challenges faced by its wind-turbine business to quality issues within the 4.X and 5.X onshore platforms, resulting in expenses amounting to €1.6 billion. Furthermore, increased product costs and difficulties in the offshore business have led to additional charges of €600 million. These obstacles have contributed to Siemens Energy’s quarterly net loss of €2.93 billion in the period ending June 30, compared to a loss of €564 million in the previous year. The loss before special items during this period was €2.05 billion, primarily driven by charges incurred at Siemens Gamesa.

Positive Revenue and Order Growth

In spite of the setbacks, Siemens Energy experienced a rise in revenue from €7.28 billion to €7.51 billion in the third quarter. Moreover, the company witnessed a significant increase in orders, which climbed from €9.84 billion to €14.89 billion, primarily due to higher volumes stemming from large orders.

forex ea chart
Would you like to try out trading with an Expert Advisor?
Check Out Best Forex EAs Here
Tags: Challengesoutlookrevenue growthSiemens Energywind-turbine business
Previous Post

Centamin Reports Rise in Pretax Profit and Revenue

Next Post

Elanco Animal Health Reports Lower Second-Quarter Sales

Next Post

Elanco Animal Health Reports Lower Second-Quarter Sales

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

1 + 3 =

Recent Posts

  • Dividend Funds See Resurgence Amid Rate-Cut Bets, Volatility
  • Fed Stress Tests Clear All Banks Amid Softer Scenarios
  • U.S. Stocks Close Out Second Strong Month with Gains
  • U.S. Court Orders Argentina to Cede YPF Stake
  • Economic Calendar for the Week of June 29th
  • About Us
  • Contact Us
  • Privacy Policy
  • Risk Disclosure
Myfxtools turns raw trade logs into verified dashboards and AI-driven insights - helping traders see, share, and sharpen their edge.

© 2025, Myfxtools. All rights reserved.

AI Strategy Insight is educational and not financial advice.

  • Expert Advisors
  • Forex Signals
    • Best Forex Signals
  • Forex Brokers
  • Forex Trading
    • Forex Guides
    • Analytical Tools
    • Charting Software
  • Crypto Trading
  • Portfolios

© 2025, Myfxtools. All rights reserved.

AI Strategy Insight is educational and not financial advice.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In