FRANKFURT (Reuters) -Siemens Energy is banking on further cost cuts and an ongoing ramp-up of offshore wind activities to meet its goal of breaking even at its loss-making Siemens Gamesa unit,
Siemens Energy Aims for Break-Even with Cost Cuts and Offshore Wind Growth
Siemens Energy's Financial Strategy
FRANKFURT (Reuters) -Siemens Energy is banking on further cost cuts and an ongoing ramp-up of offshore wind activities to meet its goal of breaking even at its loss-making Siemens Gamesa unit, executives told analysts on Wednesday after presenting quarterly results.
Projected Losses for Siemens Gamesa
Siemens Gamesa, the company's wind turbine division, is expected to incur a loss before special items of around 1.3 billion euros ($1.5 billion) in 2025, targeting break-even in the following year.
Plans for Offshore Wind Expansion
($1 = 0.8634 euros)
(Reporting by Christoph Steitz; editing by Matthias Williams)
