Siemens Energy, the German clean energy company, reported a full-year net loss of €4.6bn on Wednesday, hours after agreeing a government-led rescue plan.
The group said it was restructuring its wind turbine business, Siemens Gamesa, after confirming steep losses which it described as an “unexpected, serious setback”. The company had issued a profit warning in June.
Siemens Energy said it did not expect its wind business to return to profitability until 2026, weighing heavily on group earnings even as its other divisions were expected to continue growing strongly.
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