Siemens Energy Ends Chapter on Germany’s €7.5 Billion Rescue
(Bloomberg) -- Siemens Energy AG is on course to pay a dividend for the first time in almost four years after replacing an €11 billion ($12.6 billion) rescue package backed by the German government.
The company moved to a new €9 billion bank facility earlier than planned that will help fund large projects, it said Thursday, clearing the path for the gas and wind turbine maker to resume shareholder payouts next fiscal year.
The move ends a painful chapter in Siemens Energy’s short history as an independent entity. The company in 2023 required a €15 billion rescue package — half of which was guaranteed by the German government — after problems at its Gamesa wind-turbine unit.
Guarantees are a way for large industrial firms to secure advance payments for projects, but the state-backed support proved costly and prevented the company from paying dividends.
Siemens Energy, which was spun out of Siemens AG in 2020, said in May that it planned to end the federal guarantees by September. It has profited from surging orders for its gas turbines and grid technology equipment, enabling it to raise its revenue and profit outlook for the year.
Siemens Energy shares were little changed in Frankfurt on Thursday. The stock has surged 75% this year on soaring global power demand.
(Updates with likely timing of dividend payments in second paragraph.)
©2025 Bloomberg L.P.
