Shares in Siemens Energy jumped 20 per cent on Wednesday after the company reported an annual net profit of more than €1bn and upgraded its medium-term targets as it begins to emerge from a crisis in its wind turbine division.
The German energy engineering group announced a net income of €1.3bn for its fiscal year 2024, which ran to the end of September.
That compares with a historic loss of €4.6bn the previous year after the business revealed technical problems with some of its turbines and was forced to take a €15bn government-backed bailout.
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