Siemens Energy, in response to quality issues and a halt in onshore business, is planning a restructuring. The company aims to regain its foothold in European and US markets while abandoning the onshore business in other parts of the world. Job cuts and site closures are expected as a result of this restructuring. The company plans to reassign redundant personnel to offshore factories to maintain a relatively consistent workforce. It also aims to revive its most advanced turbine generations, 4X and 5X, and target a long-term revenue yield of at least ten percent. Projections for the current fiscal year have been revised upward, leading to a rise in the company’s stock price.
Europe and the USA are expected to participate in the anticipated growth of the onshore wind power market, with a focus on local value creation and sustainability in EU contract awards. The business involving fossil fuel gas power plants and the power grid division is performing steadily and profitably. Although Siemens Energy’s order intake has decreased, its revenue has grown, and forecasts for the full year have been raised. The company plans to promptly return state guarantees and has implemented a change in management.