Siemens Energy is an exception: Not only because the energy technology group’s shares are by far the top winners on the German stock market this year with a price increase of almost 330 percent and have beaten the leading index Dax by more than 300 percentage points. Another exception is that the board around chairman Christian Bruch will not benefit from this. Because Siemens Energy, which was spun off from the Siemens Group in 2020, needed state guarantees worth 7.5 billion euros a year ago.
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