Siemens Energy reports preliminary quarterly revenue of about $9.4 billion By Reuters

Financial Performance: Siemens Energy reported a preliminary first-quarter revenue of 8.94 billion euros, an 18.4% increase compared to the previous year, and a profit of 463 million euros, while its order intake decreased by 10.2% to 13.67 billion euros.

Challenges and Recovery: The company faced significant quality issues with its wind turbines in 2023, leading to reliance on state support; however, it has since improved its financial position by selling assets and narrowing losses in its Siemens Gamesa division, which reported a revenue of 2.42 billion euros but a loss of 374 million euros.