Siemens Gamesa: Q1 net loss of E884m

(CercleFinance.com) - Siemens Gamesa today announced financial results for Q1 2023 (Oct-Nov-Dec 22).


Its financial performance over this period was heavily impacted by the result of the evaluation of the installed base, which mainly affected its services business.

Indeed, the company says that it has detected an upward trend in the failure rate of certain components, resulting in higher than expected warranty and maintenance costs. The company is already implementing measures to reduce the future impact of these failures as much as possible.

Finally, between October and December 2022, Siemens Gamesa's revenue reached 2 billion euros (+9.8% year-on-year) with a reported EBIT of 878 million euros and a quarterly net loss of 884 million euros.


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