Siemens Energy raises annual targets

(CercleFinance.com) - On the occasion of its quarterly publication, Siemens Energy has raised its targets for the 2023-24 financial year, now aiming for a positive pre-tax free cash flow of one billion euros, instead of a negative one billion.


The power plant manufacturer also now expects a profit margin before exceptional items of between -1 and +1% (instead of -2 to +1%), and like-for-like revenue growth of between 10 and 12% (instead of 3 to 7%).

In its second accounting quarter, the German group posted a net profit of 108 million euros versus a loss of 189 million a year earlier, while its adjusted profit margin improved by 1.5 points to 2.1%.

At 8.28 billion euros, revenues rose by 3.7% on a comparable basis in a positive market environment, while orders, at 9.47 billion, fell by 21.8% on a high basis of comparison.

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