Siemens Energy will focus on strengthening its balance sheet for the fiscal year after the company’s renewables division, Siemens Gamesa, posted a €4.3bn loss.
Speaking at the presentation of their third-quarter results, Siemens Energy president and chief executive Christian Bruch (pictured) said Siemens Gamesa needs to be stabilised and its cost structure improved.
He said the company aims to strengthen its balance sheet and to resolve the quality problems facing its 4.X and 5.X onshore wind turbines.
In addition, Bruch pledged to ramp-up the Siemens Gamesa’s activities in the offshore sector and clear its €112bn order backlog.
The company will also develop new business as it aims to achieve and exceed its mid-term targets.
“We have everything we need to make our future successful, market prospects are excellent, our customers trust us and we have 96,000 employees who are passionate about the company and give their best day in and day out,” Bruch said.
“The past weeks in particular have demonstrated one thing, the success of the transformation to green energy needs Siemens Energy and we are ready to assume this responsibility. This will make us even more successful and we will continue working on this at full steam.”