Siemens announced last May that it intends to spin off of its gas and power business. Now it’s unveiled a strategy to do so. Siemens Energy’ post-spin-off strategy includes meeting accelerated, profitable growth targets, adjusting its portfolio, and gradually directing research and development towards sustainability and service. In financial terms, Siemens Energy aims to increase its EBITA margin (earnings before interest, taxes, depreciation, and amortization) from 6.5% to 8.5% for fiscal year 2023. The company plans to list its energy unit by around September next year, according to the head of its gas and power division.
An estimated one-sixth of all electricity generated is based on Siemens Energy’s technology. The company expects that it will continue to be highly relevant to the value chain of future sustainable energy supplies.
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