On Tuesday local time, Siemens Energy CEO Christian Bruch issued his latest response to U.S. hedge fund Ananym Capital's demand for the spin-off of Siemens Gamesa. He explicitly acknowledged the legitimacy of the call to separate the company's wind power subsidiary Siemens Gamesa.

Christian Bruch, CEO of Siemens Energy

In December 2025, U.S. hedge fund Ananym Capital announced its acquisition of shares in Siemens Energy and issued explicit demands to the company's management, urging them to initiate an assessment for the spin-off of Siemens Gamesa. The institution stated that Siemens Gamesa's future valuation could exceed €10 billion, and following the spin-off, the parent company's stock price is projected to rise by approximately 40%.

“This demand is entirely reasonable, and I often ponder this myself,” Christian Bruch admitted in his response. But he immediately shifted gears, stressing that Siemens Gamesa must first establish a clear development path and achieve its target of double-digit profitability.

At this stage, the top priority is to stabilize this business and achieve profitability,“ Bruehl further stated. ”Discussing a spin-off before these core objectives are met would be premature."

Financial data shows that Siemens Gamesa recorded an operating loss of €1.36 billion in 2025. The business is projected to break even in 2026, with the operating margin expected to rise to the 3%-5% range by 2028.

Bruch also provided insights into business transformation. He believes Siemens Gamesa's offshore wind power division could replicate the turnaround success achieved by the group's power grid business. Data shows the grid business's profit margin has surged from 3.6% in 2022 to 15.8% by 2025. This remarkable performance has directly propelled the group's stock price to soar nearly 11-fold over the past two years.