Clean Break: the company completely halting Russian engagements or exiting Russia

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Siemens Energy AG is a German company, a manufacturer of equipment for the energy industry. Siemens Energy AG is an energy company formed by the spin off of the former Gas and Power division of Siemens Group and includes a 92.7% share of Siemens Gamesa.

Clean Break: the company completely halting Russian engagements or exiting Russia

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Revenue(RF), mln.USD
Assets(RF), mln.USD
Taxes(RF), mln.USD
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Staff(RF), 2021

Sold factory and stake in few Russian companies but Siemens Energy supplies control technology for reactors to the Russian nuclear giant Rosatom.

The Company Statement
February 05, 2023

All new types of business in Russia have been suspended. German energy holding Siemens Energy has started restructuring its business activities in Russia and intends to complete the exit from assets in Russia at the end of the current fiscal year. But it is possible to continue servicing the equipment for "Nordic Stream-1". 14.10.2022: Siemens Energy sells Russia-based gas turbine JV to local state firm. Systems LLC (formerly Siemens LLC, the Russian structure of Siemens AG) plans to initiate a voluntary liquidation procedure in February 2024 due to the inability to continue its normal activities related to the import of goods into the Russian Federation, according to the company’s report on the results of 2023. In October 2022, PJSC Inter RAO announced the purchase of Siemens Energy's 65% stake in a joint venture with Power Machines - STGT LLC. Also, RAO Intertech B.V. (Dutch structure of Inter RAO) became the owner of the Voronezh Siemens Energy plant - Voronezh Transformer LLC (formerly Siemens Energy Transformers LLC).

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