Siemens Gamesa has reported Q3 losses before special items of €438m, compared with losses of €446m in the same period in 2024.
“Profit before special items was negative and nearly remained on prior-year quarter’s level due to the effects of cost increases related to the ongoing ramp-up of offshore activities as well as the quality issues in the onshore area,” stated the company.
Siemens Gamesa reported a significant increase in orders compared to Q3 in 2024, driven largely by two orders worth €1.8bn and €1.5bn for turbines in the Baltic Sea. In the onshore business, sales activities were started for the successor to the 5.X platform (SG 7.0-170).
However, revenue declined slightly to €2.506bn as growth in the offshore area failed to fully offset a decline in the onshore business, where moderate growth in the new units business was offset by a decline in the sales business.
The company added that results had been negatively affected by the standard annual update of the statistical models used for the evaluation of the entire turbine fleet, tariffs imposed by the US and temporary currency hedging impacts.
The book-to-bill ratio for Q3 was 1.95, while the order backlog increased to €38bn at the end of the quarter.
Parent company Siemens Energy posted profits before special items of €497m for Q2 2025, reflecting a margin of 5.1%.
The sharp increase on the €49m posted for the corresponding period last year was attributed to improved operational performance plus a significant revenue rise in the new units business.
The company said the strong quarterly results had positioned Siemens Energy towards the upper end of its full-year guidance range.