Siemens Energy expects 600-700 mln eur in disposal cash inflows in H2
07/02/2024 11:18
FRANKFURT, Feb 7 (Reuters) - Siemens Energy ENR1n.DE
expects cash inflows of 600 million to 700 million euros ($646
million to $754 million) in cash inflows from divestments,
including its Trench unit as well as its stake in Windar, the
group's chief financial officer said.
The inflows, which will occur in the second half of the
calendar year, will also include smaller unspecified
divestments, with CFO Maria Ferraro saying only that the cash
inflows would translate into book gains of more than 300 million
euros.
Siemens Energy has already realised 2.1 billion euros in
cash inflows from the sale of an 18% stake in Indian affiliate
Siemens Ltd SIEM.NS . It expects to achieve the upper end of a
2.5 billion to 3.0 billion euro cash inflow target from
disposals.
($1 = 0.9288 euros)
(Reporting by Christoph Steitz, Editing by Rachel More)
((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))