The fact that a General Electric spin-off, GE Vernova, unwittingly assisted its rival's resurrection is even more remarkable. Yet the more investors compare the two electrical power-equipment giants, the more the German firm should benefit.
Spun out of Siemens AG in 2020, Siemens Energy was forced to ask Berlin for financial guarantees in 2023 following quality problems and massive losses at its wind unit. From that nadir, the stock price has since increased around sevenfold as investors bet the wind issues won't require a dilutive recapitalisation and began paying more attention to the company's gas turbine and power-grid activities, which are benefiting from rising electricity demand. This year's 300% price gain exceeds that of any other member of the Stoxx Europe 600 index.
Siemens Energy's stock market debut during the early part of a global pandemic was inauspicious: the gas and power activities appeared to be low-growth and were barely profitable, triggering significant restructuring. Things soon got much worse: In 2022, Siemens Energy agreed to pay €4 billion to purchase the roughly one-third of shares in power subsidiary Siemens Gamesa it didn't already own.
Denne historien er fra December 24, 2024-utgaven av Financial Express Kolkata.
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Denne historien er fra December 24, 2024-utgaven av Financial Express Kolkata.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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The year AI took centrestage
The debate if it is a blessing or a Frankenstein rages on
Shyam Benegal, pioneer of parallel cinema, dies
JUST WHEN MAINSTREAM Hindi cinema stepped into an exciting new phase with the rise of the 'Angry Young Man' in the '70s, Shyam Benegal made a stunning debut as the writer and director of Ankur (The Seedling, 1974), propelling the parallel cinema movement in India.
Honda, Nissan on merger road
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Now, Musk wants you to pay 'X-tra' as premium plans
● Marks the largest price increase since acquisition
For IT firms, it's a mixed blessing
India's IT sector shows mixed growth amidst currency pressures; strong demand for cloud and AI projects balances revenue and profit impacts.
Toyota-Suzuki pact should be the template in India
ANALYSTS SAID THAT for the Indian market, auto firms can't afford to be just in segments like petrol and diesel.
UK insurer Aviva to shed up to 2,300 jobs in $4.65-billion deal
BRITISH INSURER AVIVA could cut up to 2,300 jobs as it takes over smaller rival Direct Line in a 3.7 billion pound ($4.65 billion) cash-and-stock deal, the companies said on Monday, creating the UK's largest home and motor insurer.
Noel Tata: From shadows to spotlight
THE NEW CHAIRMAN of Tata Trusts, however, has done enough to remove the earlier perception of \"lack of exposure\".
US launches new probe into legacy Chinese chips
The effort could offer Trump a ready avenue to begin imposing some of the hefty 60% tariffs he has threatened on Chinese imports
In a note to India, Bangladesh demands Hasina's extradition
● Dhaka insists on Hasina's trial, India declines comment
