Siemens Sees ‘Significant’ Recovery at Renewables, Dpa-AFX Says

Siemens AG expects a “significant improvement” at its renewable energy unit in coming quarters, Dpa-AFX said, citing Chief Executive Officer Peter Loescher.

Siemens, which posted a loss of 48 million euros ($63 million) at the unit in the three months through December, will be one of the “big winners” from Germany’s change in energy policy, Loescher said, according to the news service.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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