Shares in Siemens Energy jumped 20 per cent on Wednesday after the company reported an annual net profit of more than €1bn and upgraded its medium-term targets as it begins to emerge from a crisis in its wind turbine division. The German energy ...

Siemens, one of Europe's largest manufacturing companies, reported a record post-tax profit of €9 billion ($9.5 billion) for the past financial year on Thursday. The result was partly driven by a €500 million gain from transferring shares in its former subsidiary Siemens Energy to its pension fund.