Publication date: May 8, 2024
Siemens Energy Strategic Shift to Boost Profitability

Siemens Energy Strategic Shift to Boost Profitability

Siemens Energy to undergo significant changes in its Gamesa unit, focusing on profitability

Company Restructuring

Siemens Energy, a German company, plans to restructure its Gamesa unit by reducing output and jobs to enhance profitability. The move aims to return the division to profit, with a specific focus on the onshore business where Gamesa has faced challenges due to high costs. The company's CEO, Christian Bruch, emphasized the need for selective market focus, primarily on European and US markets. Alongside job cuts, Gamesa will witness a change in leadership, emphasizing a commitment to improving the division's financial performance. Siemens Energy reported earnings in line with expectations, highlighting a positive revenue outlook and enhanced profitability targets.