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    ENR   DE000ENER6Y0

SIEMENS ENERGY AG

(ENR)
  Report
Delayed Xetra  -  11:35 2022-09-26 am EDT
11.69 EUR   +2.10%
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Scholz to visit Nord Stream 1 gas turbine in Germany

08/02/2022 | 12:35pm EDT

BERLIN, Aug 2 (Reuters) - A Nord Stream 1 gas turbine that has become the focus of a deepening energy row with Russia is in Germany after undergoing maintenance in Canada, and German Chancellor Olaf Scholz will visit it on Wednesday, Siemens Energy said.

Russia has cited problems with the turbine as the reason for cutting gas supply via Nord Stream 1 - its main gas link to Europe.

Siemens Energy said Scholz would visit its site at Muelheim an der Ruhr, in northwestern Germany, on Wednesday.

"He (Scholz) will, together with our CEO Christian Bruch, take a look at the turbine serviced in Canada for the Nordstream 1 gas pipeline, which is ready for onward transport to Russia," Siemens Energy said in an invitation to the event.

A senior manager at Russian gas giant Gazprom said last week that delivery of the turbine to Germany from Canada after the maintenance work had been completed was not in line with the contract. Its exact whereabouts since then had been unclear.

The European Union disputes arguments by Russia and Gazprom that turbine problems are to blame for the sharp drop in supply through the pipeline that links Russia to Germany under the Baltic Sea.

The shortfall has raised the risk of shortages and gas rationing in Europe this winter. (Reporting by Alexander Huebner and Christoph Steitz Writing by Madeline Chambers. Editing by Jane Merriman, Victoria Waldersee and Emelia Sithole-Matarise)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GAZPROM 0.04% 198 End-of-day quote.-42.32%
SIEMENS AG -0.39% 98.25 Delayed Quote.-35.65%
SIEMENS ENERGY AG 2.10% 11.69 Delayed Quote.-48.02%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 3.60% 58.534 Delayed Quote.-24.11%
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Analyst Recommendations on SIEMENS ENERGY AG
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Financials
Sales 2022 28 236 M 27 239 M 27 239 M
Net income 2022 -497 M -479 M -479 M
Net cash 2022 1 657 M 1 599 M 1 599 M
P/E ratio 2022 -18,2x
Yield 2022 1,23%
Capitalization 8 355 M 8 060 M 8 060 M
EV / Sales 2022 0,24x
EV / Sales 2023 0,21x
Nbr of Employees 92 000
Free-Float 58,3%
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Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 11,69 €
Average target price 21,89 €
Spread / Average Target 87,2%
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Managers and Directors
Christian Bruch President & Chief Executive Officer
Maria Ferraro Chief Financial & Diversity Officer
Josef Kaeser Chairman-Supervisory Board
Laurence B. L. Mulliez Independent Non-Executive Member-Supervisory Board
Günter Augustat Member-Supervisory Board