Company Reports

Between 2020 and 2023, Siemens Energy failed to produce net income because of issues with its subsidiary, Siemens Gamesa. Defects in its onshore wind turbines required significant repair costs, fueling high operating losses that peaked in 2023. Thanks to a restructuring plan that includes the full integration of Siemens Gamesa into the group, losses were reduced by 69% in 2025. The company targets breakeven in 2026 and a low- to mid-single-digit profit in 2028. We view the turnaround plan as credible and the targets within reach.

Siemens Energy announced on Aug. 25 that it intends to deconsolidate its transformation of industry business while retaining a minority stake. Shares were flat on Aug. 26.

Siemens Energy's third-quarter revenue increased by 18.5% year on year, accelerating from the second quarter's 9% growth. EBITA surged more than threefold to EUR 1.6 billion. The group said it will reach the upper end of its fiscal 2026 EBITA margin guidance range of 10%-12%.

Siemens Energy's final fiscal second-quarter results revealed that the US was the key growth driver, offsetting weakness in EMEA and Asia. The firm increased its share buyback by EUR 1 billion for 2026. It had released preliminary results and raised fiscal 2026 guidance on April 23.

Siemens Energy raised its fiscal 2026 guidance for revenue growth to 14%-16% from 11%-13%, profit margin to 10%-12% from 9%-11%, and free cash flow to around EUR 8 billion from EUR 4 billion-EUR 5 billion. Its second-quarter preliminary earnings were short of the company-compiled consensus.

Between 2020 and 2023, Siemens Energy failed to produce net income because of the issues of its subsidiary, Siemens Gamesa. Defects in its onshore wind turbines required significant repair costs, fueling high operating losses that peaked in 2023. Thanks to a restructuring plan that includes the full integration of Siemens Gamesa into the group, losses were reduced by 69% in 2025. The company targets breakeven in 2026 and a low- to mid-single-digit profit in 2028. We view the turnaround plan as credible and the targets within reach.

Siemens Energy's fiscal first-quarter revenue grew 13% year on year. Orders increased 34% at a constant exchange rate to an all-time high of EUR 17.6 billion, implying a 1.82 book/bill ratio, up from 1.53 last year. Net profit tripled to EUR 0.75 billion. The group confirmed fiscal 2026 guidance.

Between 2020 and 2023, Siemens Energy failed to produce a net income because of the issues of its subsidiary, Siemens Gamesa. Defects on its onshore wind turbines required significant repair costs, fueling high operating losses that peaked in 2023. Thanks to a restructuring plan that includes the full integration of Siemens Gamesa in the group, losses have been reduced by 69% in 2025. The company targets breakeven in 2026 and a low- to mid-single-digit profit in 2028. Overall, we view the turnaround plan as credible and the targets within reach.

According to the Financial Times, activist investor Ananym Capital has acquired a stake in Siemens Energy and is pushing the firm to spin off its wind business, Siemens Gamesa. Shares are slightly up at the time of writing Dec. 9.

Between 2020 and 2023, Siemens Energy failed to produce a net income because of the issues of its subsidiary, Siemens Gamesa. Defects on its onshore wind turbines required significant repair costs, fueling high operating losses that peaked in 2023. Thanks to a restructuring plan that includes the full integration of Siemens Gamesa in the group, losses have been reduced by 69% in 2025. The company targets breakeven in 2026 and a low- to mid-single-digit profit in 2028. Overall, we view the turnaround plan as credible and the targets within reach.

Siemens Energy raised its 2028 guidance well above company-compiled consensus and our expectations, sending shares up by 10% at the time of writing.

Siemens Energy reported a record EUR 16.6 billion order intake in the third quarter, up 65% year over year. Siemens Gamesa was the largest growth contributor, though it continues to weigh on group profitability. Management reaffirmed full-year guidance, while currently ahead of most targets.

We’re transferring coverage of Siemens Energy, an international manufacturer of electrical equipment.

Siemens Energy is issued from a spinout from Siemens AG in 2020. Its products and solutions helps generate one-sixth of the world's electricity.

Siemens Energy reported 52% order intake growth during the second quarter, driven by rising electricity use.

Siemens Energy released an ad hoc trading update, which saw it raise its full-year revenue guidance by 5% to between 13% and 16%.

Siemens Energy delivered 18% revenue growth during the first quarter, comfortably surpassing FactSet consensus by 3%. Shares have not been affected by the news as preliminary figures were released on Jan. 27.

We have consolidated our recent DeepSeek-related coverage in this note. Artificial intelligence affects companies across much of our coverage, including semiconductors, cloud infrastructure, software, utilities, and energy.

Siemens Energy reported impressive preliminary first-quarter fiscal 2025 results, beating company-compiled consensus across the board. Free cash flow of EUR 1.5 billion during the first quarter marks a significant reversal from the EUR 283 million outflows during the prior period.

News about DeepSeek's AI model has raised questions about the true cost of AI models. Initially, these models appeared to be highly energy-intensive and a major driver of demand for electrical equipment suppliers.