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Siemens Energy: losses deepen in Q3

( - Siemens Energy has reported a loss of 0.
54 euro per share for Q3 2021-22, up 69% year-on-year, with an adjusted EBITDA margin before extraordinary items of -1.8%, against +0.7% a year ago.

The energy equipment maker's revenues fell 4.7% LFL to 7.28 billion euros, with growth in the gas and power division more than offset by a decline in Siemens Gamesa Renewable Energy.

However, benefiting from large orders in both divisions, order intake climbed 60% LFL to 9.84 billion euros, taking the group's order book to a record 93.4 billion euros at end-June.

For FT 2021-22, the German industrial group expects to post a net loss that is higher than in 2020-21, with the difference broadly corresponding to the impact of the restructuring of its Russian business.

The share is currently down just over 1% in a German market that is up almost 1%.

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