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Investing.com -- Siemens Gamesa will become "strong cash positive" by 2028, according to Christian Bruch, CEO of parent company Siemens Energy, who outlined the turnaround strategy for the struggling wind turbine maker during Thursday’s capital markets day.
The wind turbine division is working toward this goal after reporting negative pre-tax free cash flow of €1.75 billion ($2.02 billion) for the fiscal year ending in September. Siemens Gamesa is first targeting to break even in 2026.
Siemens Gamesa CEO Vinod Philip, who is leading the turnaround efforts, stated that the division’s service business should achieve "mid-teen" percentage margins in the mid-term, comparable to competitors Nordex and Vestas.
Bruch identified the wind business turnaround as "the biggest profit lever in 2026" for Siemens Energy. The company also plans to expand its power transformer and gas turbine production capacity by 30-50% by 2028.
During the presentation, Siemens Energy revealed it had already secured 8 gigawatts of gas turbine orders in just the first six weeks of its 2026 fiscal year.
Regarding growth strategy, Bruch indicated the company is not pursuing major acquisitions but instead focusing on smaller deals to strengthen its supply chain.
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