Siemens Gamesa today revealed that it will terminate jobs of around 2,900 employees by fiscal year 2025 and 1,900 will be in Europe.
Siemens Gamesa, a leading wind turbine manufacturing company, signed orders for €11.598 billion in the last 12 months, boosting the company’s backlog to a record €35.051 billion, i.e., a €2.509 billion increase year-over-year.
Siemens Gamesa said revenue fell 4 percent to €9.814 billion from October 2021 to September 2022. The drop in revenue is due to supply instability and delays in project execution, the challenges around the ramp-up of the Siemens Gamesa 5.X platform, reduced manufacturing activity, and component failures and repairs in legacy onshore platforms.
The company closed the fiscal year with a net loss of €940 million (vs. –€627 million in FY21).
Siemens Gamesa said revenue increased 17.8 percent to €3.372 billion during the fourth quarter of fiscal 2022.
The wind turbine company reported net profit of €286 million in the quarter from July to September 2022. Order intake from July to September increased 53 percent to €4.405 million: €1,566 million in offshore (+76 percent), €1,743 million in onshore (twice the figure registered in the same period of the previous year, boosted by the asset disposal in southern Europe), and €1,097 million in service (-3 percent).