Siemens Energi has announced plans to break even on its troubled wind turbine business by fiscal 2026 and return to profitability thereafter. The company has also expanded medium-term margin targets for its core businesses, which account for 70% of the group’s revenue.
In the offshore segment, Siemens Gamesa is increasing production capacity in existing factories to meet customer demand. The company has identified deficiencies in the onshore segment and is preparing a remedial action. CEO Christian Bruch emphasized that the turnaround of Siemens Games remains the highest priority and that the company now has a defined path and action plan.
The other three business areas of Siemens Energi are on track to meet or exceed medium-term targets. The company is benefiting from strong market trends such as decarbonisation and major network investments. It now expects margins of 7%-9% in Industrial Business Transformation, 9%-11% in Network Technologies and 10%-12% in Gas Services through fiscal 2026. This represents an increase over previously targeted margins. Last year, Siemens Energi targeted margins of 6%-8% for industry transformation, 8%-10% for grid technologies and 10%-12% for gas services by fiscal 2025.