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Siemens Gamesa reports €386m loss

Richard Heap
May 15, 2023

Siemens Gamesa made a €386m loss in the first three months of 2023 despite a 13.6% year-on-year increase in quarterly revenue to €2.4bn.

The turbine maker's parent Siemens Energy today reported that its overall financial performance was being held back by Siemens Gamesa, despite a strong quarter for turbine orders. Siemens Gamesa's €386m quarterly loss is worse than the €322m loss, on revenue of €2.2bn, in the equivalent period of 2022.

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