Tear Sheet: Siemens Energy AG - S&P Global Ratings’ Credit Research

Tear Sheet: Siemens Energy AG

Tear Sheet: Siemens Energy AG - S&P Global Ratings’ Credit Research
Tear Sheet: Siemens Energy AG
Published Aug 08, 2023
7 pages (2351 words) — Published Aug 08, 2023
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

The provisions are mainly related to quality issues on certain onshore platforms, increased product costs, and ramp-up challenges at its offshore business in the third quarter of fiscal year 2023 (ending Sept. 30). The amount is roughly in line with our previous expectations from July 2023 when we lowered the rating on the company. We do not rule out additional charges in the next quarter as technical reviews continue. However, we expect a smaller amount of up to €300 million in our base case. Cash flow generation continues to benefit from the increase in order intake, resulting in working capital inflows. However, the increase in order intake and working capital optimization are only temporary. That means SGRE?s operating performance needs

  
Brief Excerpt:

...Foreign currency issuer credit rating ###-/Stable/A-3 Local currency issuer credit rating ###-/Stable/A-3 Business risk Fair Country risk Low Industry risk Intermediate Competitive position Fair Financial risk Modest Cash flow/leverage Modest Anchor ###- Diversification/portfolio effect Neutral (no impact) Capital structure Neutral (no impact) Financial policy Neutral (no impact) Liquidity Strong (no impact) Management and governance Satisfactory (no impact) Comparable rating analysis Neutral (no impact) Stand-alone credit profile ###-...

  
Report Type:

Full Report

Issuer
Sector
Global Issuers
Country
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Tear Sheet: Siemens Energy AG" Aug 08, 2023. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Tear-Sheet-Siemens-Energy-AG-3031389>
  
APA:
S&P Global Ratings’ Credit Research. (). Tear Sheet: Siemens Energy AG Aug 08, 2023. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Tear-Sheet-Siemens-Energy-AG-3031389>
  
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