In the context of regular assessments at the end of the second quarter of fiscal 2023, Siemens AG announces an impairment reversal of its investment in Siemens Energy AG (SE), which will increase the investment book value.
Siemens Energy AG's Xetra closing share price of €20.24 on March 31, 2023, is significantly higher than the closing share price of €13.99 on June 30, 2022, when Siemens reported an impairment of the Siemens Energy AG investment.
This result in an impairment reversal, at the end of second quarter of fiscal 2023 ending, with a non-cash income effect after tax of €1.59 billion not part of the outlook for the current fiscal year. Financial results for the second quarter are scheduled to be published on May 17, 2023.
