Siemens Energy Sees Solid Start to Year Amid Gamesa Turnaround
- Manufacturer sticks to forecasts on struggling wind unit
- Gamesa losses are overshadowing strong grid business
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Siemens Energy AG has had a promising start to the year, signaling efforts to cap a torrid few years with its wind business are on track to getting resolved.
Chief Executive Officer Christian Bruch stuck to a prediction that the Gamesa unit will break even in 2026, a positive step after the company has had to repeatedly walk back forecasts. Still, fixing faulty wind turbines will take years with the biggest cash outflow expected in 2025.