Siemens Energy Eyes Return to Profitability at Wind Business After Fiscal 2026

Nov. 21, 2023 7:11 am ET

Siemens Energy mentioned it has outlined a plan for its troubled wind-turbine unit to achieve breakeven by fiscal 2026 and return to profitability after that, and prolonged midterm margin targets for its core companies.

“With a clearly defined action plan based on simplifying the product portfolio, optimizing footprint and operations, and strengthening processes and control, the wind business will be fixed,” the German firm mentioned Tuesday at its capital markets day.

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