Siemens Energy has announced a plan to bring its struggling wind-turbine unit back to profitability by fiscal 2026, after having identified deficiencies in the onshore segment and is preparing remediation action. The company’s core businesses are also benefiting from strong market trends such as decarbonization and major grid investment, with margins expected to be 7%-9% at its transformation of industry business, 9%-11% at grid technologies and 10%-12% at gas services by fiscal 2026. This represents an increase from the previously targeted margins.
In the offshore segment, Siemens Gamesa is increasing production capacity at existing factories to meet customer demand, while Chief Executive Christian Bruch emphasized that the turnaround of Siemens Gamesa remains the highest priority and the company now has a defined path and action plan.
Siemens Energy’s other three business areas, which account for 70% of the group’s revenue, are all on track to achieve or exceed midterm targets. The company is benefiting from strong market trends such as decarbonization and major grid investment. With a clearly defined action plan based on simplifying the product portfolio, optimizing footprint and operations, and strengthening processes and control, the wind business will be fixed.