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Siemens Energy strengthened business in challenging year – integration of Siemens Gamesa Renewable Energy is now the focus
“In a challenging year we managed to again deliver solid results in our Gas and Power business, while Siemens Gamesa did not meet expectations. At Gas and Power, our operational excellence program is showing results. It was also important that we aligned our group structure with future needs. We will provide more transparency about business performance; flatter hierarchies give us the ability to take decisions faster. The integration of Siemens Gamesa will help to improve profitability at our wind business and allow it to deliver to its full potential”.
Weatherproofing in a transformative year
Anne-Laure de Chammard is responsible for the Transformation of Industry Business Area, which mainly focuses on reducing energy consumption and CO2 emissions in industrial processes. Vinod Philip, previously Head of Strategy and Chief Technology Officer, is now responsible for the Management of Global Functions such as IT, procurement, and innovation.
Siemens Energy with solid results and strong free cash flow due to Gas and Power orders
Q4: Strong quarter for Siemens Energy with growth in all segments
Outlook for fiscal year 2023
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 92,000 people worldwide in more than 90 countries and generated revenue of €29 billion in fiscal year 2022.