Germany · Delayed Price · Currency is EUR Siemens Energy AG Earnings Call Transcripts
Fiscal Year 2026
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Guidance for FY2026 is reaffirmed, with strong demand and robust order backlog across all segments. Profitability and margins are improving, supported by capacity expansions and favorable pricing, while free cash flow guidance is upgraded. Market remains supply-constrained, with no major operational disruptions.
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Record Q2 order intake and backlog, strong revenue and profit growth, and robust free cash flow led to upgraded full-year guidance. Grid Technologies and Gas Services drove performance, while Siemens Gamesa showed continued improvement toward break-even.
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Record Q2 orders and strong free cash flow led to upgraded revenue and margin guidance. Data centers and grid technologies drove growth, while wind segment recovery continues. Geopolitical and market risks are managed, with capital allocation focused on share buybacks.
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Guidance for fiscal 2026 is reaffirmed, with strong demand in Gas Services and Grid Technologies. Profitability trends remain stable, while supply chain and Middle East logistics are closely monitored. CapEx will rise, and a major share buyback is underway.
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Revised summary: The AGM celebrated record financials, a strong order backlog, and a successful turnaround, with all management proposals—including a EUR 0.70 dividend and board pay changes—approved by large majorities. Strategic priorities are U.S. expansion, digitalization, and wind business profitability; shareholders raised ESG and supply chain concerns.
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Record Q1 order intake and backlog drove double-digit revenue and profit growth, with strong cash flow and margin expansion across all segments. Gas Services and Grid Technologies delivered standout results, while Siemens Gamesa showed operational improvement. Guidance for FY2026 remains unchanged.
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Record Q1 order intake and backlog, driven by strong gas and grid demand, led to robust earnings and cash flow. Investments focus on Europe and the U.S., with Gamesa break-even expected in H2. Supply chain resilience and data center demand remain key themes.
Fiscal Year 2025
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Strong structural demand and robust order intake drive record backlogs and margin expansion, with upgraded guidance for 2026 and 2028. Capacity constraints persist, but dynamic expansion and disciplined capital allocation support growth and resilience.
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The event outlined a robust strategy for profitable growth, operational excellence, and resilience, with upgraded financial targets through 2028. Major investments in capacity, digitalization, and ESG are underway, while all business areas are positioned for margin expansion. Customer demand, especially from AI and electrification, is driving unprecedented growth opportunities.
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Record fiscal year 2025 with double-digit revenue and profit growth, record order backlog, and strong cash flow. Upgraded guidance targets further margin and revenue expansion through 2028, with all segments contributing and Siemens Gamesa on track for break-even.
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Record Q3 order intake and revenue growth were driven by strong U.S. and offshore wind demand, with all segments showing improved profitability. Exiting Bund guarantees enables a potential 2025 dividend, and guidance is reaffirmed at the upper end of the range.
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Record Q3 order intake and revenue growth were driven by strong demand across all segments, especially in the U.S. and Europe. Profitability improved significantly, with robust margins and a strengthened balance sheet, while tariff and currency headwinds remain manageable.
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Q2 saw record orders, revenue, and profit growth, leading to a raised full-year outlook for all KPIs. Strong performance in Gas Services and Grid Technologies drove results, while tariff risks are being actively managed. Cash flow and backlog reached new highs.
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Record order intake and revenue drove a strong quarter, with all segments contributing to growth and profitability. Guidance for revenue, profit, and cash flow was raised, supported by a robust order backlog and improved margin quality.
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The meeting highlighted a strong financial turnaround in 2024, major investments in grid and digitalization, and ongoing restructuring in wind power. All management proposals and board elections were approved, with a commitment to hold the first in-person AGM in 2026.
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Q1 FY2025 saw strong revenue and margin growth, record order backlog, and robust cash flow, with all segments contributing and offshore wind rebounding. Guidance for FY2025 remains unchanged, with confidence in meeting medium-term targets supported by high-quality backlog and strong market demand.
Fiscal Year 2024
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Strong revenue and margin growth exceeded guidance, with record order backlog and robust cash flow. All segments contributed, though Siemens Gamesa remains a turnaround focus. Fiscal 2025 targets 8%-10% revenue growth and improved margins, with a positive midterm outlook.
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Fiscal 2024 saw a strong recovery with record orders, double-digit revenue growth, and a return to profitability, driven by robust performance in Gas Services and Grid Technologies. Siemens Gamesa improved but remains in turnaround, while federal guarantees continue to restrict dividends.
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Order backlog hit a record EUR 120 billion with strong revenue growth across most segments, while profitability was impacted by ongoing Siemens Gamesa losses and one-time legacy effects. Cash flow guidance was raised, and capacity expansions are underway to meet robust demand, especially in Gas Services and Grid Technologies.
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Orders reached EUR 10.4 billion and revenue grew 18.5% year-over-year, with a record EUR 120 billion order backlog and strong cash flow. Siemens Gamesa posted a EUR 450 million quarterly loss, but overall guidance was reaffirmed and free cash flow outlook raised.