Siemens announces impairment reversal for Siemens Energy investment

Siemens (SIEGY) announces an impairment reversal of its investment in Siemens Energy (SMEGF) which will increase the investment book value. Siemens Energy’s Xetra closing share price of EUR 20.24 on March 31, is significantly higher than the closing share price of EUR 13.99 on June 30, 2022, when Siemens reported an impairment of the Siemens Energy investment, the company said in a statement. This results in an impairment reversal, at the end of fiscal Q2 ending today, with a non-cash income effect after tax of EUR 1.59B not part of the outlook for the current fiscal year.