- Siemens Energy AG
- 13 November 2024 11:05:51
Source: Sharecast
Siemens Energy now expects to hit a profit margin of between 10% and 12% by the year ending September 2028, compared with previous guidance of 8% and the 8-10% range forecast for fiscal year 2025.
The company also guided to compound annual revenue growth on a comparable basis in a high single-digit to low double-digit percentage range until fiscal year 2028.
“In a pivotal fiscal year 2024, we achieved all our goals, driven by strong orders and project execution across all our businesses. Our focus remains on profitable growth, supported by highly favourable market conditions. The new mid-term targets until fiscal year 2028 reflect our leading role in the energy transition," said Christian Bruch, president and chief executive.
The company reported fourth-quarter revenues of €9.7bn, up 16.6% on a comparable basis, mainly due to Grid Technologies and Siemens Gamesa, where an ongoing ramp-up drove strong revenue growth in the offshore business.
Group orders were up 42.3% year-on-year at constant currency at €15.0bn, with a book-to-bill ratio (the ratio of orders to revenue) of 1.54 by the end of the year, equating to an order backlog of €123bn, up from €120bn at the start of the fourth quarter.
Siemens Energy recorded a net loss of €254m for the fourth quarter, less than a third of the €870m seen the year before and much lower than the €352m loss expected by the market.
The stock was up 17.4% at €45.73 by 1138 in Frankfurt.