Siemens Energy: still in the red but cuts losses

(CercleFinance.com) - In its first full fiscal year as an independent company, Siemens Energy reported sales of 28.
5 billion euros, up 3.7% y-o-y.

Adjusted EBITA is almost in the black (-12 million euros), after a much deeper loss of -1,543 million euros the previous year.

Siemens Energy again reported a loss for FY 2021 (-560 million euros), i.e. EPS of -0.63 euro, after a much steeper loss of 1,859 million euros twelve months earlier.

The order book for the year 2021 stood at 33 billion euros, down 2.9%.
In Q4 alone, sales rose by 7.4% to 8.2 billion euros, with adjusted EBITA of -327 million euros. Siemens Energy reported a quarterly net loss of 383 million euros (i.e. EPS of -0.43 euro), broadly in line with the Q4 2020 loss of 390 million euros.

All said, the market likes the group's improving situation, with the share up about 1.3% in late morning trading.


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