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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Siemens Energy AG | TG:ENR | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.47 | 2.44% | 19.72 | 19.68 | 19.76 | 19.88 | 19.205 | 19.65 | 529,848 | 22:50:05 |
From May 2022 to May 2024
By Michael Dabaie
Siemens AG said Thursday it could see a non-cash impairment of about EUR2.8 billion ($2.92 billion) on its investment in Siemens Energy AG.
Siemens AG said that, with the closing share price of Siemens Energy on Germany's Xetra, the market value of Siemens AG's 35% investment in Siemens Energy is significantly below the book value. Siemens Energy shares Thursday closed at EUR13.99, down about 4.3%.
This discrepancy would lead to an impairment of the Siemens Energy investment, Siemens AG said, for a total non-cash impact on net income of about EUR2.8 billion in the third quarter.
Siemens AG expects to release third-quarter results on August 11.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
June 30, 2022 15:12 ET (19:12 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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