Siemens Gamesa reported a second-quarter loss before special items of €249 million, narrowing from a €446 million loss in the same period last year, driven by increased activity in its offshore wind segment despite continued issues in onshore operations.
“Profit before special items remained negative but improved sharply compared to the prior-year quarter,” the company said in a statement on Wednesday.
The improvement was primarily attributed to growth in the offshore wind business, which led to cost degression and positive project outcomes. However, Siemens Gamesa noted that profitability was still affected by follow-on cost increases associated with the offshore ramp-up and ongoing quality issues in its onshore turbine portfolio.
Special items for the quarter were negative, largely due to the disposal of the company’s Indian wind business, which also impacted the parent company, Siemens Energy.
Order intake remained close to levels seen a year earlier. However, the offshore segment recorded no major new orders in the quarter, while onshore sales continued to face headwinds from the temporary halt in commercial activity for the 4.X and 5.X turbine platforms. The book-to-bill ratio for the quarter was 0.32, with the order backlog declining to €36 billion.
Revenue increased significantly during the quarter, largely driven by the offshore segment’s ramp-up, which included the delivery of new turbine units.
Parent company Siemens Energy reported a profit before special items of €906 million in Q2 2025, up from €170 million a year earlier, with all business segments contributing to the year-on-year improvement. Special items amounted to negative €291 million, compared to a positive €331 million in Q2 2024, again primarily due to the sale of Siemens Gamesa’s Indian operations. Net profit for Siemens Energy rose to €615 million, up from €501 million a year earlier.
