Siemens Energy reports preliminary quarter revenue of approximately $9.4 billion

Siemens Energy, world's largest manufacturer of offshore wind turbines reported a preliminary revenue for the first quarter of 8,94 billion euros (9.37 billion dollars), an increase of 18.4% on a comparative basis, and slightly higher than consensus estimates.

The preliminary order figures for the firm were 13.67 billion euro, which is 10.2% lower on a comparative basis. This figure was above estimates.

Siemens Energy's midterm outlook was raised in November of last year after it announced a record order book as well as a smaller fourth-quarter loss.

Siemens Energy reported on Monday a preliminary profit in the first-quarter of 463 millions euros. It said it also expects a free cash flow before tax of up to one billion euros for fiscal 2025.

Siemens Energy's biggest crisis to date was caused by quality issues with some of its windmills in 2023. It had to rely on state guarantees for important project.

Since then, Siemens Gamesa has grown its orderbook, sold assets and reduced losses in its wind division. Last year, its shares increased by more than three times.

The Gamesa division announced a preliminary revenue of 2,42 billion euros on Monday and a loss of 374 millions euros before special items.

(source: Reuters)