- Siemens Energy AG
- 12 May 2026 11:02:07
Source: Sharecast
Siemens Energy said orders for the three months ended 31 March rose 29.5% on a comparable basis to €17.7bn, while revenues increased 8.9% to €10.3bn. Profit before special items climbed to €1.16bn from €906m a year earlier, with net income rising to €835m.
The Munich-based group said demand in the US remained a key driver, particularly for gas turbines linked to data‑centre power needs and wider investment in electricity networks. The order backlog reached a record €154bn, giving a book‑to‑bill ratio of 1.72.
Chief executive Christian Bruch said the company continued to benefit from "strong market momentum" despite geopolitical uncertainty.
Gas Services delivered its highest quarterly order intake on record, with orders rising to €8.87bn, supported by US data‑centre demand and new European power projects. Revenues in the division rose 15% on a comparable basis.
Siemens Energy also noted that its Grid Technologies saw strong momentum, with orders up more than 41% year‑on‑year to nearly €7bn, helped by a major HVDC project in the Baltic Sea worth over €1bn and robust US transformer demand.
Siemens Gamesa, its wind‑turbine arm, continued its turnaround, narrowing quarterly losses before special items to €44m from €249m, aided by productivity gains and cost efficiencies.
On the back of its first‑half performance, Siemens Energy now expects comparable revenue growth of 14% to 16% for FY26, up from 11% to 13%, and raised its profit‑margin target to 10% to 12%. Net income was forecast to come in at around €4bn, with pre‑tax free cash flow of roughly €8bn.
As of 1100 BST, Siemens shares were down 1.79% at €175.30 each.
Reporting by Iain Gilbert at Sharecast.com