Siemens Energy: reduces net loss in Q2
(CercleFinance.com) - Siemens Energy has reported a lower net loss of E189m for Q2 2022-23, down from E256m a year ago, with a profit before exceptional items of E41m, compared with a loss of E49m.
LFL, the power plant manufacturer's sales rose 23.8% to E8bn, while its order intake climbed by 56.3% to E12.3bn, bringing the backlog at the end of March to a record level of E102bn.
These vigorous orders confirm our very strong positioning in the markets of technologies for the energy transition, management said, which nevertheless acknowledges conditions that remain difficult in wind energy.
Also, Siemens Energy has raised its revenue growth forecast on a comparable basis to between 10% and 12%, although expects a profit before exceptional items to be at the lower end of its 1%-3% range, due to a weak performance by Siemens Gamesa.
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