Siemens Energy on Monday posted a record third-quarter net loss of 2.9 billion euros (3.19 billion U.S. dollars) in the fiscal year of 2022/23 due to quality issues with its wind power subsidiary Gamesa.

"These relate mainly to quality issues of certain onshore platforms as well as increased product costs and ramp-up challenges in the offshore business," Siemens Energy said. The company provided 2.2 billion euros to tackle the issues.

Despite "challenges in turning around Siemens Gamesa," the "strong performance of our other business areas gives me confidence in our company's ability to put businesses back on a strong footing," said Christian Bruch, president and CEO of Siemens Energy AG.

Driven by growth in other business units, Siemens Energy's revenue in the third quarter rose by 8 percent year-on-year to 7.5 billion euros, according to the company.

Siemens Energy lowered its forecast for the full fiscal year 2022/23, and now expects a net loss of 4.5 billion euros. Annual sales growth was reduced by one percentage point to a range of 9 to 11 percent.

Following the announcement, shares of Siemens Energy fell by as much as 7 percent, making the company the most affected in Germany's blue-chip DAX index during late trading on Monday. 

（Picture: Veer）