Siemens Energy Q3 Loss Widens

Siemens Energy (SMEGF.PK SMNEY.PK) reported that its third quarter net loss attributable to shareholders widened to 390 million euros or 0.54 euros per share from 230 million euros or 0.32 euros per share in the prior year.

Revenue of 7.3 billion euros was down by 4.7% on a comparable basis as growth at Gas and Power segment was more than offset by a decline at Siemens Gamesa Renewable Energy (SGRE).

Net loss of Siemens Energy in fiscal year 2022 is expected to exceed prior year's net loss about by the impact from the restructuring of business in Russia reported as special item.

Fiscal year 2022, Siemens Energy expects results still towards the low end of the guidance ranges for comparable revenue development of negative 2% to positive 3% but excluding Russia-related effects.

The company still expects to achieve its outlook given for Gas and Power and Siemens Energy excluding effects from lost revenue in connection with business in Russia for comparable revenue growth.

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