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Fighting against the wind:
The Siemens Energy subsidiary Siemens Gamesa
Photo: BORJA SUAREZ / REUTERS
With a complete takeover of the wind power subsidiary Siemens Gamesa, the energy technology group Siemens Energy now wants to solve the ongoing problems on its own.
"Management is considering a cash purchase offer with the intention of delisting the outstanding shares of Siemens Gamesa," said Siemens Energy in response to corresponding media reports.
However, no decision has been made yet.
With the long-awaited step, the people of Munich want to turn things around.
Because in the past few months, Siemens Energy had been affected as a result of the subsidiary's continued weak development.
Siemens Gamesa shares rose 11.5 percent to a three-week high of €15.75 before being suspended from trading.
Papers from Siemens Energy rose by almost 4 percent and were thus the biggest winners in the index for medium-heavy stocks.
Bonus for Gamesa shareholders
Siemens Energy already owns a good two-thirds of Gamesa's shares, and the company, headquartered in Spain, has been valued at around 9.6 billion euros on the stock exchange.
Rumors of a takeover have been circulating for months.
As manager magazin reported in March, Joe Kaeser (64), chief controller of Siemens Energy, brought Francisco Belil to the supervisory board of Siemens Gamesa for precisely this reason.
Belil should smooth the waves after the complete takeover by Siemens Energy.
The Bloomberg news agency reported on the matter in the morning, citing people familiar with the matter.
According to the report, there should be a small premium for the shareholders with the project, the average price target of analysts was recently just over 18 euros.
Since the beginning of the year, Gamesa shares have lost a third of their value.
Siemens Energy had lowered its forecast last week as a result of the continued weak development at Gamesa.
Sales and operating profit are now likely to be at the lower end of the previously stated forecast ranges, it said.
The bottom line is that the management around CEO
Christian Bruch
(52) expected persistently high losses.
"The situation at Gamesa has worsened since the last profit warning," said Bruch.
For the fourth consecutive year, Gamesa had spoiled its parent's quarterly results.
Turbine manufacturers are currently faced with rising costs for energy, steel and copper.
The ongoing supply bottlenecks are wearing down profitability.
In the specific case of Siemens Gamesa, price increases and a selective selection of orders should help.
In addition, the problems with the new Landturbine 5.X are to be addressed, which are apparently even deeper than initially suspected, as CEO
Jochen Eickholt
, who has only been in office since the beginning of March, recently said.
mg/dpa-afx
