Siemens Energy scrapped its 2023 profit outlook after a review of its wind turbine unit exposed deeper than expected problems.
Issues at the company's Siemens Gamesa unit have been a drag on the parent.
Siemens Energy's site is seen on the day of German Chancellor OIaf Scholz's visit, during which he saw a gas turbine meant to be transported to the compressor station of the Nord Stream 1 gas pipeline in Russia, in Muelheim an der Ruhr, Germany, August 3, 2022.Siemens Energy, which supplies equipment and services to the power sector, scrapped its 2023 profit outlook after a review of its wind turbine unit exposed deeper than expected problems that could cost more than 1 billion euros .
Siemens Energy said that an extended technical review of Siemens Gamesa's installed turbine fleet and product designs was launched following what it says was a substantial increase in failure rates of components.
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