Siemens Energy AG

Latest Results (14.07.2026):

Siemens Energy AG — Second quarter of fiscal year 2026 (Jan 1–Mar 31, 2026): the company reported an exceptionally strong quarter with record orders of €17.7bn and a record order backlog of €154bn, comparable revenue up 8.9% to €10.3bn, Profit before Special items of €1,164m, net income of €835m (basic EPS €0.89) and free cash flow pre-tax of €1,975m; management raised the FY 2026 outlook materially (see highlights).

Record orders & backlog

Orders reached a record €17.7bn (book-to-bill 1.72), up ~29.5% on a comparable basis; order backlog rose to a new high of €154bn. The U.S. was the main regional driver, with U.S. order intake more than doubling year-over-year.

Revenue and margin trends

Group revenue was €10.3bn on a comparable basis (+8.9% y/y). Profit margin before Special items improved to 11.3% (Profit before SI €1,164m); reported Profit was €1,109m (margin 10.8%), up sharply from the prior-year quarter.

Profit, net income and EPS

Profit before Special items: €1,164m (Q2 FY2025: €906m). Reported Profit: €1,109m (Q2 FY2025: €615m). Net income: €835m (Q2 FY2025: €501m). Basic earnings per share: €0.89 (up 78% y/y).

Cash flow & balance sheet highlights

Free cash flow pre-tax increased to €1,975m (Q2 FY2025: €1,390m), supported by customer advance payments tied to the strong order intake. Cash and cash equivalents stood at €11,695m and adjusted net cash was €7,551m (Mar 31, 2026).

Outlook raised for FY 2026

Siemens Energy now expects comparable revenue growth of 14–16% and a Profit margin before Special items of 10–12% for FY 2026 (up from prior ranges). Management now targets Net income of around €4bn and Free cash flow pre-tax of around €8bn for the fiscal year.

Segment highlights (short)

Gas Services: record quarterly orders €8,869m, book-to-bill 2.55, revenue €3,478m, profit before SI €552m (margin ~15.9%). Grid Technologies: orders €6,996m (incl. >€1bn HVDC Baltic Sea order), book-to-bill 2.28, revenue €3,067m, profit before SI €524m (margin impacted vs prior year by ~€100m timing effects). Transformation of Industry: orders down, book-to-bill 0.88, revenue €1,422m, profit before SI €171m (margin ~12.0%). Siemens Gamesa: orders €846m, book-to-bill 0.33, revenue €2,526m; profit before SI loss narrowed to €(44)m (substantial improvement y/y).

Regional performance

The Americas led order growth (orders €8,004m), with the U.S. the standout contributor (€6,944m in orders). Revenue growth was strong in the Americas and Europe; Asia/Australia revenue declined versus the prior-year quarter.