Net loss in Q1 widened to 598 mln euros
Shares fall 2.3 in premarket trade
Plans to raise up to 1.5 bln euros to help fund Gamesa takeover

FRANKFURTDUESSELDORF, Feb 7 Reuters Siemens Energy said on Tuesday its net loss more than doubled in the first quarter, blaming charges related to quality issues at Siemens Gamesa which the German firm is trying to fix via a full takeover of the wind division.

Siemens Energy, which prereleased firstquarter results last month, said its net loss widened to 598 million euros 641 million in the OctoberDecember period, compared with a loss of 246 million euros in the same period a year earlier.

This has been a hard blow for us, CEO Christian Bruch told journalists, referring to the 472 million euro charge Siemens Gamesa unveiled last month due to faulty components that led to higher warranty and service costs.

Shares in the group, which according to Chief Financial Officer Maria Ferraro had secured 97.59 of Siemens Gamesa as of Feb. 6, fell 2.3 in premarket trade.

As part of its move to take over the rest of Siemens Gamesa, which is in the process of being delisted, Siemens Energy plans to raise a maximum of 1.5 billion euros as soon as possible to help fund the transaction, Ferraro said.

Siemens Energy will ask shareholders at its annual general meeting later on Tuesday to allow the issuing of new shares in the future.

Order backlog hit a new record at 98.8 billion euros at the end of December, said the group that was spun off…