Siemens Gamesa reported a narrower loss before special items of €374 million in the first quarter of its 2025 financial year, improving from a €424 million loss in the same period the previous year. The 11.9% reduction in losses was attributed to a sharp increase in orders, with growth in the offshore business outweighing the decline in the onshore segment.
The offshore business saw notable growth, largely driven by a €1.4 billion order secured for the East Anglia 2 project in the North Sea. However, Siemens Gamesa noted that the onshore sector’s performance was impacted by the ongoing effects of a temporary suspension in sales activities for its 4.X and 5.X turbines.
The company reported an order backlog of €39 billion at the end of the quarter. Despite the improved performance, Siemens Gamesa indicated that profit was still affected by cost increases tied to the ramp-up of offshore activities and quality issues in the onshore business.
Increased negative special items, amounting to €18 million, were primarily linked to restructuring expenses in the wind business. This was a sharp contrast to the positive special items of €1.67 billion reported in Q1 FY 2024, which were related to disposals.
Siemens Energy, the parent company of Siemens Gamesa, saw its profit before special items more than double year-over-year to €481 million, up from €208 million in Q1 FY 2024. The positive performance was held back by Siemens Gamesa’s results, though the impact was significantly lower than in the previous year. Special items for Siemens Energy amounted to a negative €18 million, compared to positive special items of €1.67 billion in the prior year.
Christian Bruch, president and CEO of Siemens Energy, commented: “Our strong first quarter reflects the market opportunities arising from the increasing demand for electricity. The strong cash flow was mainly driven by growth across all our businesses, advance payments and timing effects. Our focus lies still on profitable topline growth and technological leadership.
