Interface News reporter | Ma Yueran
Siemens Energy announcedFreeonlineultimatexvideopokerWill get into trouble for itFreeonlineultimatexvideopokerSiemens Gamesa, the wind power division, has carried out comprehensive reforms, including layoffs and newly appointed chief executives. At the same time, Siemens Energy raised its full-year outlook.
Jochen Eickholt, 62, has informed Siemens Gamesa's board of directors that he will resign as chief executive on July 31, 2024 and leave the company on September 30, Siemens Energy said on its website on May 8.
Vinod Philip, 50, will take over as CEO. Siemens Energy said that under its leadership, Siemens Gamesa will be integrated into the group's management structure and assume operational responsibility.
Christian Bruch, CEO of Siemens Energy, said Eickholt was not to blame for some of Gomeisa's problems, while saying that the wind power business needed intergenerational change, according to Power magazine.
Bruch points out that the transformation of the wind power business remains a priority. To that end, the company is taking steps to reduce complexity to create a more focused business. The plan will include an unknown number of layoffs and a reduction in manufacturing capacity.
Siemens Gamesa has launched comprehensive restructuring measures and steps to achieve double-digit operating margins. The goal of these measures is to break even by 2026 and then restore profit growth. The company will continue to be active on land and at sea.
Siemens Energy said that in the future, its onshore wind power business will mainly focus on the European domestic market and the US market. In other local markets, the company can provide services in new business only if it makes economic sense. The production capacity of land-based areas will adapt to this new direction.
The most important task for offshore business is to increase production capacity. At present, its German Cuxhaven, Danish Aalborg and French Le Havre plants are running as planned.
At the same time, Siemens Energy said that the global services business remains an important pillar. In order to further expand the influence of the mainland upper fan service, the responsibilities of the new turbine and service business will be merged in the future. In recent years, Siemens Energy has also implemented this integration approach in other business areas. The new organizational model will reduce levels and define responsibilities more clearly.
Organizational adjustment will lead to position adjustment. "the exact impact of layoffs, especially on individual countries and regions, cannot be quantified." During the change of chief executive, Jochen Eickholt and Vinod Philip will finalize individual measures in the coming weeks and discuss and negotiate with their respective employee representatives in the coming months, Siemens said.
But the company also said that with the growth of its offshore business, Siemens Gamesa's workforce is expected to remain roughly the same in the coming years. The aim is to absorb as many staff as possible from planned reductions in the affected areas through internal mobility.
In addition, from June 1, Siemens Gamesa's key core functions, such as human resources, law, IT, procurement and logistics, will be placed under unified global management at the group level, with the goal of becoming faster, more efficient and more transparent.
Siemens Energy operates independently globally after it was spun off from Siemens in 2020, with a portfolio of traditional and renewable energy technologies, including gas turbines, steam turbines, hydrogen-driven hybrid power plants, generators and transformers, wind power, etc.
Siemens Gamesa is a global wind power giant, formed by the merger of Siemens Wind Power and Gamesa in July 2016, headquartered in Zamudio, Spain.
According to the ranking of the new installed capacity of global wind power manufacturers released by Bloomberg New Energy Finance in March this year, Gomeisa dropped to the eighth place in the world. In 2022, Gomeisu ranked fifth on the list.
Since June last year, Siemens Gomeisa has been mired in a fan quality crisis. Siemens Energy said at that time that it would investigate Siemens Gomeisa's existing fan products and designs due to the rising failure rate of fan parts. About 15% of its installed 132 GW wind turbines will be affected by older components.
In order to achieve the target product quality of some land-based platforms, Siemens Energy will carry out quality maintenance and other related measures, which may cost more than 1 billion euros. Bloomberg has commented on this as "one of the greatest catastrophic failures in the history of German industry."
Affected by this fan quality problem, Siemens Energy had expected a total loss of about 4.5 billion euros in fiscal year 2023.
According to the latest financial report, Siemens Energy reported net income of 1% in the second quarter of fiscal 2024.Freeonlineultimatexvideopoker0.08 billion euros, turning losses into profits, compared with a net loss of 1 in the same period of the previous fiscal year.Freeonlineultimatexvideopoker.89 billion euros.
According to the latest news, Siemens Energy will resume sales of the revised version of its 4.X turbine in Europe by the end of September, and the 5.X product is expected to re-enter the market next year. The sales of these products were suspended after engineering defects were found.
In view of the strong demand for power grid equipment in the current market, Siemens Energy raised its sales, operating profit and free cash flow outlook for 2024 on May 8, and the latest forecast is that revenue will grow by 10% in 2024. 12%, higher than the previous target of 3-7%.
Siemens Energy expects revenue growth in the second half of the current fiscal year to be much higher than that in the first half, especially driven by continued growth in the maritime business.