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Siemens Energy Sees Solid Start to Year Amid Gamesa Turnaround
Siemens Energy AG’s negative free cash flow deepened due to losses in its long-struggling wind turbine unit that is overshadowing solid performance of the company’s other businesses.
Siemens Energy AG ’s negative free cash flow deepened due to losses in its long-struggling wind turbine unit that is overshadowing solid performance of the company’s other businesses. Free pre-tax cash flow was a negative €283 million ($304 million) during the fiscal first quarter through December, compared with €58 million loss a year ago, the company said Wednesday. The grid technology and gas turbine maker last year stopped sales of defective wind turbines after slow progress on fixing mechanical problems spiraled.
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