Prime Highlights:
- Siemens Energy reported record third-quarter sales and profit, supported by strong demand for gas turbines.
- Growth was driven by AI data centre expansion in the US and large energy projects across the Middle East.
Key Facts:
- Third-quarter sales increased 18.5% to €11.45 billion, ahead of market expectations.
- Profit before special items rose to €1.62 billion, while Siemens Gamesa delivered its first quarterly operating profit in nearly four years.
Background:
Siemens Energy recorded its strongest third quarter to date, helped by higher orders for gas turbines and other power equipment. Expanding AI data centres in the United States and new energy projects in the Middle East helped drive growth, while the company also recorded a significant rise in orders during the quarter.
Third-quarter revenue climbed 18.5% to €11.45 billion, exceeding analysts’ expectations of €11.22 billion. Profit before special items reached €1.62 billion, comfortably above market forecasts of €1.38 billion. Following the strong performance, Siemens Energy said it now expects to achieve the upper end of its 10% to 12% profit margin target for 2026.
Chief Executive Officer Christian Bruch said the global shift towards greater electrification continues to increase demand for the company’s products. He noted that electricity is becoming a larger part of overall energy use, creating fresh opportunities for power generation and grid infrastructure.
According to Bruch, customers operating AI data centres and energy projects in the Middle East accounted for around half of the company’s gas turbine orders during the quarter.
Growing investment in artificial intelligence infrastructure has increased the need for reliable electricity, supporting demand for gas turbines and grid equipment. Siemens Energy has continued to benefit from this trend by supplying technology used to power large-scale data centres.
The company also reported a major milestone for Siemens Gamesa, which recorded its first quarterly operating profit in almost four years. Improved production efficiency and ongoing operational improvements contributed to the positive result.
Siemens Energy shares rose 1.1% after the company reported its third-quarter results. The figures showed higher sales, stronger profit and increased orders for its power equipment.
