Siemens Energy has announced plans to turn its struggling wind-turbine business profitable by 2026, with a focus on simplifying the product portfolio, optimizing footprint and operations, and strengthening processes and control. The German company’s CEO Christian Bruch emphasized that the turnaround of Siemens Gamesa remains a top priority for the company.
The offshore segment of Siemens Gamesa is increasing production capacity at existing factories to meet customer demand. In addition, the company has identified deficiencies in the onshore segment and is preparing remediation action. With a defined path and action plan, Siemens Gamesa now has a clear direction forward.
Siemens Energy’s other three business areas are all on track to achieve or exceed midterm targets. The company is benefiting from strong market trends such as decarbonization and major grid investment. By fiscal 2026, margins are expected to reach 7%-9% in the transformation of industry business, 9%-11% in grid technologies, and 10%-12% in gas services. This represents an increase from previously targeted margins. Last year, Siemens Energy aimed for margins of 6%-8% for transformation of industry, 8%-10% for grid technologies and 10%-12% for gas services by fiscal 2025.