Siemens Energy Projects Limited Impact From Import Tariffs (2)

Siemens Energy AG shrugged off the US tariff chaos that’s hit other German manufacturers, saying that the effect of import duties on its bottom line will be small.

Tariffs’ impact on profit is expected to be as much as a high double-digit million euro amount for the second half of the fiscal year, the maker of gas turbines and grid equipment said Thursday. It’s planning to hike prices on new orders and boost local production to soften the blow.

“The situation isn’t good, we are not immune to US tariffs,” Chief Executive Officer Christian Bruch said in a call with ...