Siemens Energy Debuts Below Expectations

By Staff of Admiral Markets

Monday, September 28, 2020 9:22 AM EDT

Siemens Energy debuted this morning on the Frankfurt Stock Exchange below expectations:

In its first crossing, its shares reached 22.01 euros
This represents a market valuation of 16 billion euros
According to sources consulted by Reuters, analysts were expecting a market valuation of 22 billion.

This company is the product of the spin-off of the energy business of the German giant Siemens AG (SIEGY), which maintains a 35.1% stake. The Siemens pension fund also has 9.9%.

For its part, the new division owns a 67% stake in the world's second-largest wind turbine manufacturer, Siemens Gamesa, which was spun off from the German multinational due to weak profit margins.

Siemens Energy's goal is to provide solutions to all areas of the energy market, for example:

To make coal-fired power plants more efficient to save CO2
To drive innovation in eco-friendly hydrogen and gas turbine technologies.

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