Siemens Energy AG ENR.DE
Quarterly and annual results for Siemens Energy stock (ENR.DE) since 2023: revenue, earnings, balance sheet, cash flow and management guidance from IR documents, every figure with its source. As of 08/2026, quarterly reporting. Latest reported (Q3 2026): Order backlog, Book-to-bill ratio, Profit margin. Latest reading: Revenue accelerating, Order intake, Cash flow inflection.
Revenue accelerating Order intake Cash flow inflection
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Business Model#
What the company does and how it earns its money; written AI-editorially, exclusively from the company's original reports, without any assessment of our own.
Siemens Energy is an energy technology company that designs, manufactures, and services equipment and systems across the energy transition. Its principal segments are Gas Services (gas turbines and service contracts for conventional and hydrogen-ready power generation), Grid Technologies (high-voltage transmission equipment, digital grid solutions, and transformers), Transformation of Industry (electrification and decarbonisation systems for industrial customers), and Siemens Gamesa Renewable Energy (onshore and offshore wind turbines and wind-farm services). Revenue is generated through long-term equipment supply and engineering contracts, recurring maintenance and aftermarket services tied to a large global installed base, and project work in grid infrastructure. The company has announced preparations to transition to the independent brand Omterra, with the rebranding scheduled to begin during calendar year 2026.
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Current Status#
Summary of the most recent reporting period: core figures, drivers and management statements; written editorially from the current original report, every figure backed by a source number.
In its third quarter of fiscal year 2026, Siemens Energy delivered record quarterly revenue of 11,400m, up 18.5% on a comparable basis, with all segments contributing to growth 35. Profit before Special Items rose to 1,623m, more than tripling from the year-earlier period, while net income reached 1,188m 35. Orders hit a record €17.9bn driven by demand in the U.S., Middle East, and Asia including data center projects, bringing the order backlog to €162bn with a book-to-bill ratio of 1.57 35 36. Siemens Gamesa returned to profitability for the first time since fiscal year 2022, and the company announced preparations to transition to the independent brand Omterra, with rebranding scheduled to begin later in calendar year 2026 35 36.
Management commentary on the 2027-Q1 results (IR-Quarter, 2026-08-05):
„Global demand for electricity – and consequently for our products – remained strong in the third quarter. We delivered record orders, revenue, and profitability, while continuing to improve efficiency. The fact that our wind business has returned to profitability in a quarter for the first time since 2022 is a fantastic achievement by this team“ – Christian Bruch, President and CEO of Siemens Energy AG 35
Revenue · 2026-Q311,400€m+17.0 % vs. 2025-Q3
Net profit · 2026-Q31,188€m+70.4 % vs. 2025-Q3
EPS · 2026-Q31.28€+82.9 % vs. 2025-Q3
Revenue trend
Guidance
For FY2028, the company guides Profit margin before Special items to 14% to 16% (raised); Revenue to high single-digit to low double-digit percentage range (initiated); Profit margin to 10% to 12% (initiated). 27.
ProfitabilityProfit before Special Items was 1,623m in the quarter, with all segments delivering strong improvements 35. Net income totalled 1,188m for the period 35. Free cash flow was 2,111m, while free cash flow pre tax was reported at €2,319m compared with €419m in the year-earlier quarter, driven by improved profit and customer advance payments 35.
LeverageCash stood at 11,088m at quarter-end, producing a net cash position of 10,681m 36. The net cash balance was higher than the 7,965m position recorded at the end of the prior quarter, reflecting the strong free cash generation of the period. No net-debt-to-EBITDA ratio was disclosed in the available sources for this quarter.
Management viewManagement reaffirmed the fiscal year 2026 outlook and raised guidance towards the upper end of the profit margin range 36. Capacity expansion in Gas Services and Grid Technologies was described as on track, with additional medium-sized gas turbine capacity of more than 50 units expected to come online in the second half of fiscal year 2026 36. New power plant and data center infrastructure orders in the U.S., Middle East, and Asia were cited as key demand drivers in the quarter 35.
ChangeU.S. tariff changes negatively affected Siemens Gamesa and overall profitability in the period 27. Additional U.S. tariff charges weighed on service contracts and delivery projects 26. The disposal of the Indian wind business resulted in revaluation losses recognised in the quarter 27.
Risks (current)Siemens Gamesa quality issues resulted in cash provisions that affected cash flows, and the ramp-up of offshore wind activities carries execution risks 30 27. Hamburg court proceedings remain ongoing: two individuals were acquitted in January 2026 on charges relating to unlawful turbine exports, and the prosecutor has filed an appeal 30. Potential tax risks in the mid three-digit million euro range exist, alongside mutual compensation obligations with the Siemens Group related to shareholder structure changes 30.
New this reporting periodSiemens Energy announced preparations to transition to the independent brand Omterra, with rebranding activities scheduled to begin later in calendar year 2026 36. This planned transition marks a step toward establishing a brand identity distinct from the Siemens Group.
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Price & Chart#
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Share-Price Drivers#
Factors the company itself names as material for its business development (IR-based); reproduced neutrally, no price forecast and no assessment of our own.
Grid Technologies and Gas Services demand growth lifting group revenue and margins
Group revenue reached 11,400 with operating income of 1,623 in 2026-Q3, carried by the electrification- and grid-exposed businesses, and management raised guidance 36
Group revenue reached 11,400 with operating income of 1,623 in 2026-Q3, carried by the electrification- and grid-exposed businesses, and management raised guidance 36
Grid Technologies
Segment revenue grew 28.6% year-on-year at a 19.9% margin 36, supported by HVDC projects in the North Sea and Spain 27, two new factories 19 and the Grid Technologies AI Lab in Orlando 34
Segment revenue grew 28.6% year-on-year at a 19.9% margin 36, supported by HVDC projects in the North Sea and Spain 27, two new factories 19 and the Grid Technologies AI Lab in Orlando 34
Gas Services
Segment revenue grew 20.8% at a 17.3% margin 36; the JV was fully acquired 29 and traction extends to H2-ready gas turbines 28, an SMR partnership with Rolls-Royce 25 and a data-centre collaboration with Eaton 26
Segment revenue grew 20.8% at a 17.3% margin 36; the JV was fully acquired 29 and traction extends to H2-ready gas turbines 28, an SMR partnership with Rolls-Royce 25 and a data-centre collaboration with Eaton 26
Transformation of Industry
Segment revenue grew 11.5% at a 14.3% margin 36, with pilots in electric process heating and 7.5MW molten-salt heater testing 28 21
Segment revenue grew 11.5% at a 14.3% margin 36, with pilots in electric process heating and 7.5MW molten-salt heater testing 28 21
Siemens Gamesa wind turnaround
4.X onshore sales resumed 24 and the SG 7.0-170 successor received first orders 30, with a break-even target set for FY2026 30, but the wind business historically ran deeply negative margins (SGRE at -15.4% 4)
4.X onshore sales resumed 24 and the SG 7.0-170 successor received first orders 30, with a break-even target set for FY2026 30, but the wind business historically ran deeply negative margins (SGRE at -15.4% 4)
Profitability and capital returns
Group net income was 1,188 with free cash flow of 2,111 in 2026-Q3 36, profitability improved and guidance was raised, alongside a share buyback program 30
Group net income was 1,188 with free cash flow of 2,111 in 2026-Q3 36, profitability improved and guidance was raised, alongside a share buyback program 30
Sector trend: Grid and gas equipment demand is strengthening as electrification and data-centre load drive order intake, with segment margins improving across Grid Technologies, Gas Services and Transformation of Industry 36. Onshore and offshore wind is recovering more slowly, with Siemens Gamesa still working toward break-even 30.
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Event Timeline#
This timeline collects the material events from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements. Events are grouped by quarter (most recent first); the grey tag before each event names the event type, the date is the publication date of the source. Management quotes open the quarter block as direct quotes. Per quarter we show the three most defining events; more can be expanded per quarter, older years are collapsed. Every event carries its source as a superscript, clickable number.
Overview: one dot per event · click jumps to the period
2027 · 5 events
2027-Q1 · Oct – Dec 2026
„Global demand for electricity – and consequently for our products – remained strong in the third quarter. We delivered record orders, revenue, and profitability, while continuing to improve efficiency. The fact that our wind business has returned to profitability in a quarter for the first time since 2022 is a fantastic achievement by this team“ – Christian Bruch, President and CEO of Siemens Energy AG 35
Guidance raised 2026-08-12
Fiscal year 2026 outlook reaffirmed with guidance raised towards the upper end of the profit margin range 36
Fiscal year 2026 outlook reaffirmed with guidance raised towards the upper end of the profit margin range 36
Segment divergence 2026-08-12
Gas Services revenue grew +20.5% to 3,756.0 EURm in 2027-Q1 (42% of group revenue) while group revenue changed -7.9%. 36
Gas Services revenue grew +20.5% to 3,756.0 EURm in 2027-Q1 (42% of group revenue) while group revenue changed -7.9%. 36
Segment divergence 2026-08-12
Grid Technologies revenue grew +28.6% to 3,624.0 EURm in 2027-Q1 (41% of group revenue) while group revenue changed -7.9%. 36
Grid Technologies revenue grew +28.6% to 3,624.0 EURm in 2027-Q1 (41% of group revenue) while group revenue changed -7.9%. 36
Adjusted result turned positive ◦ 2026-08-05
Profit before Special items more than tripled to €1,623m from €497m, with all segments contributing 35
Profit before Special items more than tripled to €1,623m from €497m, with all segments contributing 35
Operating income turned positive ◦ 2026-08-05
Siemens Gamesa returned to profitability for the first time since fiscal year 2022, with profit before Special items of €75m 35
Siemens Gamesa returned to profitability for the first time since fiscal year 2022, with profit before Special items of €75m 35
2026 · 14 events
2026-Q3 · Apr – Jun 2026
Cash flow inflection 2026-08-12
Operating cash flow reached 2,525.0 EURm vs 718.0 EURm in 2025-Q3 (×3.5). 36
Operating cash flow reached 2,525.0 EURm vs 718.0 EURm in 2025-Q3 (×3.5). 36
Order intake 2026-02-11
Order intake / order book: gas services order backlog EUR 60.0m; grid technologies order backlog EUR 45.0m; order backlog EUR 146.0m (+11.5% YoY); siemens gamesa order backlog EUR 34.0m; transformation of industry order backlog EUR 8.0m 29
Order intake / order book: gas services order backlog EUR 60.0m; grid technologies order backlog EUR 45.0m; order backlog EUR 146.0m (+11.5% YoY); siemens gamesa order backlog EUR 34.0m; transformation of industry order backlog EUR 8.0m 29
2026-Q2 · Jan – Mar 2026
„Our strong market momentum continues despite geopolitical uncertainty, leading to another exceptionally strong quarter and first half of the fiscal year. Our raised outlook reflects our confidence that these developments will continue, as well as in our resilience and project execution“ – Christian Bruch, President and CEO of Siemens Energy AG 33
Net cash build 2026-05-22
Net cash position expanded to 7,965.0 EURm from 5,196.0 EURm in 2025-Q4 (+53%, derived from reported financial debt minus cash). 34
Net cash position expanded to 7,965.0 EURm from 5,196.0 EURm in 2025-Q4 (+53%, derived from reported financial debt minus cash). 34
Adjusted result turned positive ◦ 2026-05-12
Siemens Gamesa profit before special items improved to (€44)m from (€249)m in prior-year Q2, driven by productivity improvements and en route to expected break-even in FY2026 33
Siemens Gamesa profit before special items improved to (€44)m from (€249)m in prior-year Q2, driven by productivity improvements and en route to expected break-even in FY2026 33
Margin expanding 2026-05-12
H1 FY2026 profit margin before special items improved 4 percentage points to 12% from 7%, driven by all segments with strongest contribution from Siemens Gamesa 30
H1 FY2026 profit margin before special items improved 4 percentage points to 12% from 7%, driven by all segments with strongest contribution from Siemens Gamesa 30
Guidance raised 2026-05-12
Full-year FY2026 guidance raised to comparable revenue growth 14-16% (from 11-13%), profit margin before special items 10-12%, net income ~€4bn, free cash flow pre tax ~€8bn 30
Full-year FY2026 guidance raised to comparable revenue growth 14-16% (from 11-13%), profit margin before special items 10-12%, net income ~€4bn, free cash flow pre tax ~€8bn 30
2026-Q1 · Oct – Dec 2025
„We have made a very strong start to the financial year. Sustained high demand in our gas turbines and grid technologies businesses is making a significant contribution to overall performance. Also in the wind business, there are early signs of a modest improvement“ – Christian Bruch, President and CEO of Siemens Energy AG 29
„2025 was a successful year. We delivered sustainable growth and significantly improved profitability, increasing the company's value. For the first time in four years, we're returning to dividend payments – reflecting our confidence in the business and our commitment to shareholders. This success was hard-earned and didn't come by chance. Given our positive outlook for the energy market, we are raising our mid-term targets through 2028“ – Christian Bruch, President and CEO of Siemens Energy AG 27
Adjusted result turned positive ◦ 2026-02-11
Profit before special items nearly tripled to 1,159 from €481m year-over-year 29
Profit before special items nearly tripled to 1,159 from €481m year-over-year 29
Revenue accelerating 2026-02-11
Revenue increased 12.8% to 9,675 on comparable basis with growth across all segments; order backlog reached new record of €146bn with book-to-bill ratio of 1.82 29
Revenue increased 12.8% to 9,675 on comparable basis with growth across all segments; order backlog reached new record of €146bn with book-to-bill ratio of 1.82 29
earnings 2025-12-31
Full-year net income of 1,685 with diluted EPS of 1.60 enabled proposed dividend of €0.70 per share, restored one year ahead of plan 28
Full-year net income of 1,685 with diluted EPS of 1.60 enabled proposed dividend of €0.70 per share, restored one year ahead of plan 28
Revenue accelerating 2025-12-31
Full-year orders grew to approximately €59 billion; order backlog reached record €138 billion with approximately €37 billion expected to convert in FY2026 28
Full-year orders grew to approximately €59 billion; order backlog reached record €138 billion with approximately €37 billion expected to convert in FY2026 28
Divestiture 2025-12-31
Indian wind business sold to Peony Properties for 10% retained interest; classified as held for disposal with impairment of €225 million and onerous contract provision of €51 million recognized 28
Indian wind business sold to Peony Properties for 10% retained interest; classified as held for disposal with impairment of €225 million and onerous contract provision of €51 million recognized 28
Guidance raised 2025-11-13
FY2026 guidance raised at FY2025 full-year results: comparable revenue growth 11-13%, profit margin before special items 9-11%, net income €3-4bn 27
FY2026 guidance raised at FY2025 full-year results: comparable revenue growth 11-13%, profit margin before special items 9-11%, net income €3-4bn 27
2025 · 19 events
2025-Q4 · Jul – Sep 2025
„The rising demand for electricity led to an exceptionally strong quarter and first half of the fiscal year for our business. The improved outlook reflects our confidence in the ongoing market opportunities and our excellent project execution. Even in light of the uncertain macroeconomic factors, our focus remains on profitable growth“ – Christian Bruch, President and CEO of Siemens Energy AG 24
„The rising demand for electricity led to an exceptionally strong quarter and first half of the fiscal year for our business. The improved outlook reflects our confidence in the ongoing market opportunities and our excellent project execution. Even in light of the uncertain macroeconomic factors, our focus remains on profitable growth“ – Christian Bruch 25
revenue 2025-05-08
Revenue grew 20.7% on comparable basis to 9,962 in Q2 FY2025 with double-digit increases in all segments 24
Revenue grew 20.7% on comparable basis to 9,962 in Q2 FY2025 with double-digit increases in all segments 24
Margin expanding 2025-05-08
Profit margin before special items improved by 5 percentage points to 7% from 2%, reflecting broad segment performance gains 23
Profit margin before special items improved by 5 percentage points to 7% from 2%, reflecting broad segment performance gains 23
Guidance raised 2025-05-08
FY2025 guidance raised to revenue growth 13-15%, profit margin before Special items 4-6%, FCF pre tax around €4 billion 24
FY2025 guidance raised to revenue growth 13-15%, profit margin before Special items 4-6%, FCF pre tax around €4 billion 24
2025-Q3 · Apr – Jun 2025
„Our strong first quarter reflects the market opportunities arising from the increasing demand for electricity. The strong cash flow was mainly driven by growth across all our businesses, advance payments and timing effects. Our focus lies still on profitable topline growth and technological leadership“ – Christian Bruch, President and CEO of Siemens Energy AG 22
Operating income doubled 2025-08-06
Operating income more than doubled YoY (49.0 to 909.0 EURm, +1755%). 141
Operating income more than doubled YoY (49.0 to 909.0 EURm, +1755%). 141
Adjusted result turned positive ◦ 2025-02-12
Profit before Special items more than doubled year-over-year to €481m, though held back by Siemens Gamesa results which improved significantly versus prior year 22
Profit before Special items more than doubled year-over-year to €481m, though held back by Siemens Gamesa results which improved significantly versus prior year 22
revenue 2025-02-12
Revenue grew 18.4% on comparable basis to €8.9bn in Q1 FY2025 with all segments recording growth 22
Revenue grew 18.4% on comparable basis to €8.9bn in Q1 FY2025 with all segments recording growth 22
Guidance raised 2025-02-12
FCF pre-tax guidance raised to under review after Q1 FY2025 FCF of €1,528m materially exceeded prior guidance of up to €1bn 22
FCF pre-tax guidance raised to under review after Q1 FY2025 FCF of €1,528m materially exceeded prior guidance of up to €1bn 22
2025-Q2 · Jan – Mar 2025
„In a pivotal fiscal year 2024, we achieved all our goals, driven by strong orders and project execution across all our businesses. Our focus remains on profitable growth, supported by highly favorable market conditions. The new mid-term targets until fiscal year 2028 reflect our leading role in the energy transition“ – Christian Bruch, President and CEO 19
„In a pivotal fiscal year 2024, we achieved all our goals, driven by strong orders and project execution across all our businesses. Our focus remains on profitable growth, supported by highly favorable market conditions. The new mid-term targets until fiscal year 2028 reflect our leading role in the energy transition“ – Christian Bruch, President and CEO of Siemens Energy AG 20
Net cash build 2025-05-08
Net cash position expanded to 5,129.0 EURm from 2,596.0 EURm in 2024-Q4 (+98%, derived from reported financial debt minus cash). 139
Net cash position expanded to 5,129.0 EURm from 2,596.0 EURm in 2024-Q4 (+98%, derived from reported financial debt minus cash). 139
Cash flow inflection 2025-05-08
Operating cash flow reached 1,567.0 EURm vs 613.0 EURm in 2024-Q2 (×2.6). 139
Operating cash flow reached 1,567.0 EURm vs 613.0 EURm in 2024-Q2 (×2.6). 139
earnings 2024-11-13
FY2024 net income reached €1,335m versus net loss of €4,588m in FY2023; prior-year loss mainly driven by Siemens Gamesa impairments 19
FY2024 net income reached €1,335m versus net loss of €4,588m in FY2023; prior-year loss mainly driven by Siemens Gamesa impairments 19
Revenue accelerating 2024-11-13
Q4 FY2024 orders grew 42.3% on comparable basis to €15.0bn, driven by large orders at Grid Technologies and Gas Services 20
Q4 FY2024 orders grew 42.3% on comparable basis to €15.0bn, driven by large orders at Grid Technologies and Gas Services 20
Guidance initiated 2024-11-13
Medium-term FY2028 targets initiated: revenue CAGR high single-digit to low double-digit percentage range and profit margin 10-12% 19
Medium-term FY2028 targets initiated: revenue CAGR high single-digit to low double-digit percentage range and profit margin 10-12% 19
2025-Q1 · Oct – Dec 2024
„We will continue on this path with passion, consistency, and a focus on profitable growth.“ – Christian Bruch, President and Chief Executive Officer 21
„The rapidly growing electricity market requires a wide range of our products. Especially our grid and gas turbine businesses are benefiting from this momentum. Importantly, with growing our order backlog, we have been able to improve its margin quality as well. Despite all the challenges, we are optimistic about the future and after the first nine months, we are well on track to meet our full-year guidance“ – Christian Bruch, President and CEO of Siemens Energy AG 18
Net income turned positive 2024-12-31
FY2024 net income recovered to 1,335 million from a prior-year loss of approximately €4.6bn; result includes special items of €2,038m primarily from disposal gains on Siemens Limited India stake, Windar Renovables, and Trench Group 21
FY2024 net income recovered to 1,335 million from a prior-year loss of approximately €4.6bn; result includes special items of €2,038m primarily from disposal gains on Siemens Limited India stake, Windar Renovables, and Trench Group 21
Strategic pivot 2024-12-31
Siemens Gamesa Special Committee dissolved in November 2024 following wind business stabilization; onshore quality issues contained with no new technical findings; SG14-236 offshore turbine in production; break-even target maintained for fiscal 2026 21
Siemens Gamesa Special Committee dissolved in November 2024 following wind business stabilization; onshore quality issues contained with no new technical findings; SG14-236 offshore turbine in production; break-even target maintained for fiscal 2026 21
Adjusted result turned positive ◦ 2024-08-07
Profit before Special items turned positive at €49m versus negative €2,048m prior year; improvement reflects recovery from prior-year Siemens Gamesa quality issues 18
Profit before Special items turned positive at €49m versus negative €2,048m prior year; improvement reflects recovery from prior-year Siemens Gamesa quality issues 18
Revenue accelerating 2024-08-07
Revenue grew 18.5% on comparable basis to €8.8bn with substantial growth at Grid Technologies, Transformation of Industry and Siemens Gamesa 18
Revenue grew 18.5% on comparable basis to €8.8bn with substantial growth at Grid Technologies, Transformation of Industry and Siemens Gamesa 18
Guidance raised 2024-08-07
Full-year FCF pre-tax guidance raised to €1.0bn-€1.5bn from previously up to €1.0bn 18
Full-year FCF pre-tax guidance raised to €1.0bn-€1.5bn from previously up to €1.0bn 18
2024 · 16 events
FY2024 · Oct 2023 – Sep 2024
Net income turned positive 2024-11-13
Net income turned positive for the first time after 1 negative fiscal year (-4588.0 to +1335.0 EURm). 133
Net income turned positive for the first time after 1 negative fiscal year (-4588.0 to +1335.0 EURm). 133
2024-Q4 · Jul – Sep 2024
„Our strong development in the second quarter underscores the continued strong demand for our technology to power the energy transition and our success in stabilizing the wind business. We have raised our outlook to reflect this positive development. The turnaround of our wind business is still our focus. To this end, we are taking steps to reduce complexity and create a more focused business“ – Christian Bruch, President and CEO of Siemens Energy AG 16
Margin expanding 2024-05-08
Grid Technologies H1 FY2024 operating income before special items more than tripled to €462m from €227m in H1 FY2023, contributing to the full-year guidance upgrade 15
Grid Technologies H1 FY2024 operating income before special items more than tripled to €462m from €227m in H1 FY2023, contributing to the full-year guidance upgrade 15
Guidance raised 2024-05-08
FY2024 guidance raised: comparable revenue growth to 10-12% (from 3-7%), profit margin before special items to -1% to +1%, free cash flow pre tax to positive approximately €1bn (from negative approximately €1bn) 16
FY2024 guidance raised: comparable revenue growth to 10-12% (from 3-7%), profit margin before special items to -1% to +1%, free cash flow pre tax to positive approximately €1bn (from negative approximately €1bn) 16
2024-Q3 · Apr – Jun 2024
„The solid first quarter is encouraging, in part also due to project shifts, which are normal in plant engineering, especially with the market dynamics we are currently seeing. That is why our focus remains on solving the quality problems in our onshore wind business and making the most of the growth potential for the rest of the company“ – Christian Bruch, President and CEO of Siemens Energy AG 13
Cash flow inflection 2024-08-12
Operating cash flow reached 937.0 EURm vs 212.0 EURm in 2023-Q3 (×4.4). 38
Operating cash flow reached 937.0 EURm vs 212.0 EURm in 2023-Q3 (×4.4). 38
financials 2024-02-29
Sale of 18% stake in Siemens Limited, India closed generating approximately €2.1bn cash inflow; Q1 FY2024 net income 1,582 million included €1,729m pre-tax disposal gain 14
Sale of 18% stake in Siemens Limited, India closed generating approximately €2.1bn cash inflow; Q1 FY2024 net income 1,582 million included €1,729m pre-tax disposal gain 14
Adjusted result turned positive ◦ 2024-02-07
Q1 FY2024 profit before special items turned positive at €208m compared to negative €282m in the prior-year quarter; order backlog reached record €118bn with book-to-bill ratio of 2.01 13
Q1 FY2024 profit before special items turned positive at €208m compared to negative €282m in the prior-year quarter; order backlog reached record €118bn with book-to-bill ratio of 2.01 13
2024-Q2 · Jan – Mar 2024
„In a year of unprecedented challenges, Siemens Energy showed that turnarounds are achievable, with the businesses, excluding wind, meeting or exceeding their full-year targets. We are also seeing progress in dealing with the issues at Siemens Gamesa, and I am encouraged that the data from the installed onshore turbines confirm our previous findings. Our strong balance sheet remains a top priority, and Siemens Energy's vital role in the energy transition will continue to drive our growth and success in the years ahead.“ – Christian Bruch, President and Chief Executive Officer 10
„In a year of unprecedented challenges for SE, two-thirds of our businesses are on a profitable growth trajectory. For our underperforming wind business all eyes must be on cost-out, selectivity and acceleration of productivity while continuously working on the remediation. The current high demand for our products also brings challenges. We are very glad that we have now found a good solution with all parties to secure our energy transition accelerated growth“ – Christian Bruch, CEO 12
earnings 2023-11-15
Full-year FY2023 net loss of approximately €4.6bn (EPS negative €5.47), primarily driven by Siemens Gamesa quality-related losses and charges 11
Full-year FY2023 net loss of approximately €4.6bn (EPS negative €5.47), primarily driven by Siemens Gamesa quality-related losses and charges 11
Guidance initiated 2023-11-15
FY2024 guidance initiated: comparable revenue growth 3-7%, profit margin before special items -2% to +1%, and net income up to €1bn including disposal proceeds 11
FY2024 guidance initiated: comparable revenue growth 3-7%, profit margin before special items -2% to +1%, and net income up to €1bn including disposal proceeds 11
2024-Q1 · Oct – Dec 2023
„Our third-quarter results demonstrate the challenges in turning around Siemens Gamesa. The strong performance of our other business areas gives me confidence in our company's ability to put businesses back on a strong footing“ – Christian Bruch, President and CEO of Siemens Energy AG 6
„Our third-quarter results demonstrate the challenges in turning around Siemens Gamesa. The strong performance of our other business areas gives me confidence in our company's ability to put businesses back on a strong footing“ – Christian Bruch, CEO 8
Operating income turned positive 2024-02-07
Operating income turned positive for the first time after 4 negative periods (-615.0 to +1813.0 EURm). 125
Operating income turned positive for the first time after 4 negative periods (-615.0 to +1813.0 EURm). 125
Net income turned positive 2024-02-07
Net income turned positive for the first time after 4 negative periods (-870.0 to +1582.0 EURm). 125
Net income turned positive for the first time after 4 negative periods (-870.0 to +1582.0 EURm). 125
EBITDA turned positive 2024-02-07
EBITDA turned positive for the first time after 2 negative periods (-226.0 to +2174.0 EURm). 125
EBITDA turned positive for the first time after 2 negative periods (-226.0 to +2174.0 EURm). 125
Adjusted result turned negative ◦ 2023-08-07
Siemens Gamesa recognized €1.6bn in charges for quality defects in 4.X and 5.X onshore turbine platforms and €600m for offshore ramp-up challenges; approximately €700m in deferred tax assets written down 7
Siemens Gamesa recognized €1.6bn in charges for quality defects in 4.X and 5.X onshore turbine platforms and €600m for offshore ramp-up challenges; approximately €700m in deferred tax assets written down 7
Guidance cut 2023-08-07
FY2023 guidance cut: comparable revenue growth reduced to 9-11%, profit margin before special items to -10% to -8%, and net loss expectation raised to approximately €4.5bn due to Siemens Gamesa quality and ramp-up charges 7
FY2023 guidance cut: comparable revenue growth reduced to 9-11%, profit margin before special items to -10% to -8%, and net loss expectation raised to approximately €4.5bn due to Siemens Gamesa quality and ramp-up charges 7
2023 · 8 events
2023-H2 · Apr – Sep 2023
Net income turned negative ◦ 2023-05-15
Siemens Gamesa identified extraordinarily negative failure rates in specific components, causing €472 million warranty and maintenance cost adjustment; group H1 net loss widened to €787 million from €502 million in the prior year period 2
Siemens Gamesa identified extraordinarily negative failure rates in specific components, causing €472 million warranty and maintenance cost adjustment; group H1 net loss widened to €787 million from €502 million in the prior year period 2
Revenue accelerating ◦ 2023-05-15
Revenue increased 20% on a comparable basis in first half FY 2023 to €15,092 million, with all segments achieving growth led by Gas Services 2
Revenue increased 20% on a comparable basis in first half FY 2023 to €15,092 million, with all segments achieving growth led by Gas Services 2
Acquisition 2023-05-15
Siemens Energy completed voluntary cash tender offer for outstanding shares in Siemens Gamesa Renewable Energy, increasing total shareholding to 97.8% as of March 31, 2023 2
Siemens Energy completed voluntary cash tender offer for outstanding shares in Siemens Gamesa Renewable Energy, increasing total shareholding to 97.8% as of March 31, 2023 2
2023-Q4 · Jul – Sep 2023
„Strong orders confirm our very good positioning in the markets for energy transition technologies, such as power generation and transmission. Our adjusted outlook reflects the strong demand, as well as the continuous challenging market environment in the wind industry. The turnaround of the wind business remains the cornerstone of becoming a profitable leader of the energy transition“ – Christian Bruch, President and CEO of Siemens Energy AG 3
Acquisition 2023-05-22
Achieved 98% ownership of Siemens Gamesa and delisted shares from Spanish stock exchange in February 2023 4
Achieved 98% ownership of Siemens Gamesa and delisted shares from Spanish stock exchange in February 2023 4
revenue 2023-05-15
Revenue grew 23.8% on a comparable basis; orders grew 56.3% on a comparable basis to €12.3 billion with Book-to-bill ratio of 1.53 3
Revenue grew 23.8% on a comparable basis; orders grew 56.3% on a comparable basis to €12.3 billion with Book-to-bill ratio of 1.53 3
Guidance raised 2023-05-15
FY 2023 outlook raised: comparable revenue growth now expected 10-12% (previously 3-7%), reflecting stronger business momentum and financial performance 3
FY 2023 outlook raised: comparable revenue growth now expected 10-12% (previously 3-7%), reflecting stronger business momentum and financial performance 3
2023-Q3 · Apr – Jun 2023
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Key Figures (€m)#
The company's core financial figures in three views, one below the other: fiscal years (as reported; after restatements the table shows the most recent filing version, marked), half-years (6-month basis, H2 = second half on its own) and quarters (3-month basis, not cumulative). Each row is one period, most recent first. Values with a dotted underline are clickable and show the raw value, the exact source location, the scale evidence and the source; derived values additionally show their formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Revenue (€m) · annual basis, as reported
Net income (€m) · annual basis, as reported
EPS (€) · annual basis, as reported
Revenue (€m) · quarterly basis, as reported
Net income (€m) · quarterly basis, as reported
EPS (€) · quarterly basis, as reported
Operating cash flow (€m) · quarterly basis, as reported
Cash (€m) · annual basis, as reported
Debt (€m) · annual basis, as reported
Net Debt (€m) · annual basis, as reported
Cash (€m) · quarterly basis, as reported
Debt (€m) · quarterly basis, as reported
Net Debt (€m) · quarterly basis, as reported
Capex (€m) · quarterly basis, as reported
FCF (€m) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2022 is on record.
Fiscal years
Amounts in €m · EPS in € per share · as reported
| Period | Calendar quarter | Revenue | Op. income | Net income | EPS (€) | OCF | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | Q4/2024–Q3/2025 | 39,077 | 2,149~ | 1,685 | 1.60 | 5,821 | 133 |
| FY2024 | Q4/2023–Q3/2024 | 34,465 | 2,125~ | 1,335 | 1.35 | 2,889 | 27 |
| FY2023 | Q4/2022–Q3/2023 | 31,119 | -3,257~ | -4,588 | -5.47 | – | 21 |
Quarters
Amounts in €m · EPS in € per share · as reported
| Period | Calendar quarter | Published | Revenue | Op. income | Net income | EPS (€) | FCF | Cash | Net Debt | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q3* | Q2/2026 | 2026-08-05 | 11,400 | 1,623 | 1,188 | 1.28≈ | 2,111 | 11,088 | -10,681~ | 35 |
| 2026-Q2* | Q1/2026 | 2026-05-12 | 10,300 | 1,164 | 835 | 0.89≈ | 1,716 | 11,695 | -7,965 | 30 |
| 2026-Q1* | Q4/2025 | 2026-02-11 | 9,675 | 1,159 | 746 | 0.79≈ | 2,807 | 11,802 | -10,397~ | 29 |
| 2025-Q4* | Q3/2025 | 2025-11-13 | 10,428 | 283 | 235 | 0.19≈ | 1,157 | 9,162 | -5,196 | 27 |
| 2025-Q3* | Q2/2025 | 2025-08-06 | 9,745 | 909 | 697 | 0.70~ | 267 | 8,489 | – | 26 |
| 2025-Q2* | Q1/2025 | 2025-05-08 | 9,962 | 557~ | 501 | 0.49~ | 1,237 | 8,983 | -5,129 | 33 |
| 2025-Q1* | Q4/2024 | 2025-02-12 | 8,942 | 399~ | 252 | 0.23 | 1,436 | 8,032 | -7,359~ | 29 |
| 2024-Q4* | Q3/2024 | 2024-11-13 | 9,741 | -178~ | -254 | -0.34~ | 820 | 6,363 | -2,596 | 27 |
| 2024-Q3* | Q2/2024 | 2024-08-07 | 8,800 | 49 | -102 | -0.16≈ | 623 | 6,076 | -2,246 | 18 |
| 2024-Q2* | Q1/2024 | 2024-05-08 | 8,278 | 436 | 108 | 0.08 | 297 | 5,844 | -1,886 | 24 |
| 2024-Q1* | Q4/2023 | 2024-02-07 | 7,649 | 1,813 | 1,582 | 1.78 | 283° | 5,293 | -1,440 | 22 |
| 2023-Q4* | Q3/2023 | 2023-11-15 | 8,521 | -615 | -870 | -1.04 | 984 | 4,588 | 193 | 20 |
| 2023-Q3* | Q2/2023 | 2023-08-07 | 7,506 | -2,000 | -2,931 | -3.42~ | -55 | 4,374 | 335 | 18 |
| 2023-Q2* | Q1/2023 | 2023-05-15 | 8,028 | -7 | -189 | -0.25 | -420 | 5,201 | 100 | 16 |
| 2023-Q1 | Q4/2022 | 2024-02-07 | 7,064 | -480 | -598 | -0.60 | – | 5,449 | – | 115 |
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
Columns not reported in this reporting cadence are hidden: Op. income (adj.), EBITDA (adj.), EPS adj. (not reported in any source for these periods).
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Balance Sheet & Cash Flow (€m)#
Point-in-time balance sheet items (e.g. cash, financial debt) and cash flow items (operating cash flow, investments/capex) per fiscal year, half-year and quarter. Balance sheet values are as of the period end, flow items cover the period. Derived values are marked and are calculated, for example, as: net debt = financial debt − cash; free cash flow = operating cash flow − capex; the click popover shows formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.
Fiscal years
Amounts in €m · as reported
| Period | Calendar quarter | Published | Cash | Debt | Net Debt | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | Q4/2024–Q3/2025 | 2025-11-13 | 9,162 | 3,966 | -5,196 | 5,821 | 67 | 5,754 | 133 |
| FY2024 | Q4/2023–Q3/2024 | 2024-11-13 | 6,363 | 3,767 | -2,596 | 2,889 | – | – | 27 |
| FY2023 | Q4/2022–Q3/2023 | 2023-11-15 | 4,588 | 4,781 | 193 | – | – | – | 21 |
Quarters
Amounts in €m · as reported
| Period | Calendar quarter | Published | Cash | Debt | Net Debt | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q3 | Q2/2026 | 2026-08-05 | 11,088 | 407~ | -10,681~ | 2,525 | 414 | 2,111 | 35 |
| 2026-Q2 | Q1/2026 | 2026-05-12 | 11,695 | 3,730 | -7,965 | 2,080 | 364 | 1,716 | 30 |
| 2026-Q1 | Q4/2025 | 2026-02-11 | 11,802 | 1,405~ | -10,397~ | 3,154 | 347 | 2,807 | 29 |
| 2025-Q4 | Q3/2025 | 2025-11-13 | 9,162 | 3,966 | -5,196 | 1,842 | 685 | 1,157 | 27 |
| 2025-Q3 | Q2/2025 | 2025-08-06 | 8,489 | – | – | 718 | 451 | 267 | 26 |
| 2025-Q2 | Q1/2025 | 2025-05-08 | 8,983 | 3,854 | -5,129 | 1,567 | 330 | 1,237 | 33 |
| 2025-Q1 | Q4/2024 | 2025-02-12 | 8,032 | 673~ | -7,359~ | 1,694 | 258 | 1,436 | 29 |
| 2024-Q4 | Q3/2024 | 2024-11-13 | 6,363 | 3,767 | -2,596 | 1,470 | 650 | 820 | 27 |
| 2024-Q3 | Q2/2024 | 2024-08-07 | 6,076 | 3,830 | -2,246 | 937 | 314 | 623 | 18 |
| 2024-Q2 | Q1/2024 | 2024-05-08 | 5,844 | 3,958 | -1,886 | 613 | 316 | 297 | 24 |
| 2024-Q1 | Q4/2023 | 2024-02-07 | 5,293 | 3,853 | -1,440 | -132 | 234 | 283° | 22 |
| 2023-Q4 | Q3/2023 | 2023-11-15 | 4,588 | 4,781 | 193 | 1,451 | 467 | 984 | 20 |
| 2023-Q3 | Q2/2023 | 2023-08-07 | 4,374 | 4,709 | 335 | 212 | 267 | -55 | 18 |
| 2023-Q2 | Q1/2023 | 2023-05-15 | 5,201 | 5,301 | 100 | -159 | 261 | -420 | 16 |
| 2023-Q1 | Q4/2022 | 2024-02-07 | 5,449 | – | – | – | – | – | 115 |
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.
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Revenue by Type (as of 2026-Q3 · EURm · 10/11)#
Revenue split by segment or product type, exactly as the company itself reports it. The basis is stated next to each value (3, 6 or 12 months); segment totals can deviate from group revenue (reconciliation/consolidation items). If the company changes its segment structure, older structures are kept in the expandable part. Rows in grey are no longer reported separately by the company; they show the last available figures and are never extrapolated.
| Segment | Since | Period | Basis | Revenue | Growth | Margin | Source |
|---|---|---|---|---|---|---|---|
| Gas Services | 2023-H2 | 2027-Q1 | 3M | 3,756 | 20.8% | 17.3% | 36 |
| Grid Technologies | 2023-H2 | 2027-Q1 | 3M | 3,624 | 28.6% | 19.9% | 36 |
| Transformation of Industry | 2023-H2 | 2027-Q1 | 3M | 1,527 | 11.5% | 14.3% | 36 |
| Compression | 2023-Q4 | 2026-Q1 | 3M | 605 | 11.4% | 14.7% | 26 |
| Industrial Steam Turbines & Generators | 2023-Q4 | 2026-Q1 | 3M | 388 | 3.2% | 16.2% | 26 |
| Electrification, Automation, Digitalization | 2023-Q4 | 2026-Q1 | 3M | 338 | -2.6% | 8.9% | 26 |
| Sustainable Energy Systems | 2023-Q4 | 2026-Q1 | 3M | 50 | 55% | -50.5% | 26 |
| GS (Grid Solutions) | – | FY2025 | – | – | – | – | 28 |
| GT (Gas and Steam Turbines) | – | FY2025 | – | – | – | – | 28 |
| TI (Transformers and Instruments) | – | FY2025 | – | – | – | – | 28 |
| SGRE | 2023-Q4 | 2023-Q4 | 3M | 2,438 | 13.6% | -15.4% | 4 |
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Products & M&A (32/46 active+recent)#
Product announcements from the reports; market launches, approvals, partnerships; with first mention (date) and source. “Active/current” means: still mentioned in the most recent reports; what the company no longer mentions moves to the expandable part but is never deleted. Rows in grey are discontinued products.
| Product/Line | Since | Status | Source |
|---|---|---|---|
| Gas turbines running 100% on hydrogen | 2030-12 | Launched | 10 |
| Emdeni green hydrogen electrolysis plant | 2027 | Launched | 38 |
| Siemens Gamesa break-even achievement | 2026-12 | Launched | 10 |
| Noedra software suite rollout | 2026-12 | Launched | 34 |
| Grid Technologies AI Lab in Orlando | 2026-12 | Launched | 34 |
| SG 7.0-170 turbine successor model first orders received | 2026-06 | Launched | 30 |
| Carbon Border Adjustment Mechanism (CBAM) implementation | 2026-01 | Launched | 28 |
| Two new factories for Grid Technologies | 2026 | Launched | 19 |
| Mission H2 Power hydrogen turbine technology development with SSE Thermal | 2026 | Planned | 28 |
| Electric heater for industrial process heating | 2026 | Planned | 28 |
| Brand transition to Omterra | 2026 | Launched | 36 |
| Grid Technologies HVDC projects in North Sea and Spain | 2025-12 | Launched | 27 |
| Final contract for SMR supply expected to be completed | 2025-12 | Planned | 25 |
| Electrolyzer factory capacity ramp-up to at least three gigawatts | 2025-12 | Launched | 10 |
| SG 7.0-170 turbine market launch | 2025-09 | Launched | 26 |
| Siemens Gamesa service operations merger with turbine business | 2025-08 | Launched | 21 |
| Re-introduction of 4.X and 5.X platforms at Siemens Gamesa | 2025-06 | Launched | 19 |
| Hydrogen roadmap implementation (100% H2 and green fuels) | 2025-06 | Launched | 19 |
| Siemens Energy India Limited listing (2x) | 2025-04 | Launched | 26 |
| Treasury share issuance under share-based payment programs | 2025 | Launched | 28 |
| Siemens Gamesa offshore business ramp-up | 2025 | Launched | 27 |
| Industrial waste heat recovery systems | 2025 | Launched | 28 |
| H2-ready gas turbines development | 2025 | Launched | 28 |
| DAC pilot facility construction | 2025 | Launched | 21 |
| Blue Portfolio (SF6-free transmission equipment) | 2025 | Launched | 28 |
| Battery energy storage solutions | 2025 | Launched | 28 |
| 72.5 kV gas-insulated switchgear and dead-tank circuit breakers | 2025 | Launched | 28 |
| 7.5MW molten salt pilot heater testing | 2025 | Launched | 21 |
| 5.X onshore turbine platform sales resumption (3x) | 2025 | Launched | 24 |
| 145 kV switchgear live-tank and gas-insulated designs | 2025 | Launched | 28 |
| 145 kV gas-insulated switchgear 63kA for US market | 2025 | Launched | 28 |
| SG14-236 offshore turbine (3×) | 2024 | Launched | 28 |
| 4.X onshore platform market return | 2024-09 | Launched | 21 |
| South Fork offshore windfarm | 2024-02 | Launched | 14 |
| Siemens Gamesa 4.X platform sales resume Europe | 2024 | Launched | 17 |
| Joint development agreement with Saudi Aramco for DAC | 2024 | Launched | 21 |
| Direct Air Capture (DAC) demonstration unit delivery | 2024 | Launched | 21 |
| Taiwan offshore wind farm order | 2023-12 | Stable | 11 |
| Transformation of Industry gigawatt electrolyzer factory opening in Berlin | 2023-11 | Launched | 10 |
| Siemens Gamesa offshore order (3×) | 2023-09 | Stable | 3 |
| Settlement of intellectual property disputes with General Electric | 2023-03 | Launched | 2 |
| EUR 1.7 billion order for offshore wind farm including service in United Kingdom | 2023 | Launched | 2 |
| Mistral program at Siemens Gamesa | 2023 | Stable | 3 |
| Largest order in Siemens Energy history for offshore grid connection in Germany | 2023 | Launched | 2 |
| Gigawatt factory for electrolyzers with Air Liquide | 2023 | Launched | 12 |
| Accelerating Impact program | 2023 | Stable | 3 |
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M&A (40)#
All recorded acquisitions (purchases) and divestitures/exits with date, short description and source; deliberately including smaller transactions that summaries often miss. Purchase prices appear only where the company itself has disclosed them. Rows in grey are cancelled transactions; the cancellation date is shown in the row.
Acquisitions · 11Divestitures/exits · 6older: 23 (in the table)
Acquisitions
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Full acquisition of Gas Services joint venture | 2026 | Completed | 29 |
| Partnership agreement with Rolls-Royce SMR for Small Modular Reactors | 2025-12 | Announced | 25 |
| Acquisition of remaining 50% of RWG (Repair & Overhauls) Limited | 2025-12 | Completed | 30 |
| Eaton and Siemens Energy data center collaboration | 2025-09 | Completed | 26 |
| Siemens Energy India Ltd. stock market listing | 2025-06 | Completed | 28 |
| Moody's rating issuance | 2025-06 | Completed | 28 |
| Large offshore wind order in North Sea (2×) | 2025-06 | Completed | 20 |
| Taiba 2 and Qassim 2 power plants | 2025-03 | Completed | 38 |
| Denmark energy infrastructure renewal agreement | 2025-03 | Announced | 38 |
| 25-year long-term maintenance contract for Saudi Arabia power plants | 2025-03 | Completed | 38 |
| Supervisory Board member elections | 2025-02 | Completed | 37 |
| Siemens Limited energy business spinoff and listing | 2024-12 | Completed | 21 |
| Charlotte transformer factory expansion | 2024-12 | Completed | 17 |
| Share buyback program (3x) | 2024-01 | Completed | 28 |
| Siemens Gamesa strategic update | 2023-11 | Completed | 8 |
| Siemens Gamesa Extraordinary General Meeting for capital reduction | 2023-06 | Completed | 4 |
| Shanghai Electric Power Generation Equipment Co. LTD. acquisition | 2023-04 | Completed | 2 |
| Green Bond issuance | 2023-04 | Completed | 2 |
| Siemens Gamesa Renewable Energy, S.A. acquisition | 2023-03 | Completed | 2 |
| Siemens Gamesa delisting from Spanish stock exchange | 2023-02 | Completed | 4 |
| Tyrrhenian Link HVDC project - four converter stations contract | 2023 | Completed | 4 |
| Siemens Gamesa outstanding shares acquisition | 2023 | Completed | 28 |
| RWE Thor offshore wind project - preferred supplier agreement for 72 SG 14-236 DD turbines | 2023 | Announced | 4 |
| Mandatory convertible note (3x) | 2022-09 | Completed | 21 |
Divestitures / exits
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Demerger process of Siemens Limited Gas & Power business | 2028 | Divested | 12 |
| Sale of power electronics business | 2026 | Divested | 29 |
| Demerger of energy business from Siemens Limited, India | 2025-12 | Divested | 24 |
| Early exit from German government back guarantee | 2025-06 | Divested | 28 |
| Sale of Indian wind business (4×) | 2025 | Divested | 29 |
| Sale of Ethos Energy Group Limited, United Kingdom | 2025 | Divested | 28 |
| Portfolio disposals | 2024-12 | Divested | 17 |
| Signed deal to sell Trench business | 2024-03 | Divested | 13 |
| Sale of Trench Group (2×) | 2024 | Divested | 15 |
| Sale of 49% stake in Ethos Energy Group Limited UK | 2024 | Divested | 21 |
| Sale of 32% stake in Windar Renovables S.A. Spain | 2024 | Divested | 21 |
| Sale of 20% stake in Maschinenfabrik Reinhausen GmbH Germany | 2024 | Divested | 21 |
| Sale of 18% stake in Siemens Limited India (4×) | 2023-11 | Divested | 21 |
| Sale of Voronezh Transformer LLC | 2022-10 | Divested | 2 |
| Sale of Modern Gas Turbine Technologies Holding B.V. | 2022-10 | Divested | 2 |
| Sale of Guascor Energy S.A. gas engines business | 2022-10 | Divested | 2 |
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Reported KPIs (as disclosed) (273)#
Figures the company discloses itself in addition to the standard financials; order intake, recurring revenue, user or unit counts, adjusted measures. These “story KPIs” usually slip through standard databases; here they are collected as reported, with no calculation of our own. Important: the definition comes from the company itself and can differ from firm to firm; period and source are stated next to every value.
Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
| Date | Period | KPI | Value / change | Source |
|---|---|---|---|---|
| 2026-08-12 | 2027-Q1 | Order backlog | €162bn | 36 |
| 2026-08-12 | 2027-Q1 | Book-to-bill ratio | 1.57 | 36 |
| 2026-08-05 | 2027-Q1 | Profit margin before SI | 14.2% | 35 |
| 2026-08-05 | 2027-Q1 | Profit margin | 13.7% | 35 |
| 2026-08-05 | 2027-Q1 | Order backlog | 162 (EUR in billions of €) | 35 |
| 2026-08-05 | 2027-Q1 | Book-to-bill ratio | 1.57 | 35 |
| 2026-05-22 | 2026-Q4 | Order backlog | €154bn | 34 |
| 2026-05-22 | 2026-Q4 | Book-to-bill ratio | 1.72 | 34 |
| 2026-05-12 | 2026-Q4 | Transformation of Industry order backlog | €8bn | 33 |
| 2026-05-12 | 2026-Q4 | Transformation of Industry book-to-bill ratio | 0.88 | 33 |
| 2026-05-12 | 2026-Q4 | Total Equity | 11,118 (EUR in millions of €) | 33 |
| 2026-05-12 | 2026-Q4 | Siemens Gamesa order backlog | €33bn | 33 |
| 2026-05-12 | 2026-Q4 | Siemens Gamesa book-to-bill ratio | 0.33 | 33 |
| 2026-05-12 | 2026-Q4 | Order backlog | €154bn | 33 |
| 2026-05-12 | 2026-Q4 | Grid Technologies order backlog | €49bn | 33 |
| 2026-05-12 | 2026-Q4 | Grid Technologies book-to-bill ratio | 2.28 | 33 |
| 2026-05-12 | 2026-Q4 | Gas Services order backlog | €66bn | 33 |
| 2026-05-12 | 2026-Q4 | Gas Services book-to-bill ratio | 2.55 | 33 |
| 2026-05-12 | 2026-Q4 | Book-to-bill ratio | 1.72 | 33 |
| 2026-05-12 | 2026-Q4 | Adjusted net debt | (7,551) | 33 |
| 2026-05-12 | 2026-H2 | Service share of revenue | 33% | 30 |
| 2026-05-12 | 2026-H2 | Service share of orders | 28% | 30 |
| 2026-05-12 | 2026-H2 | Order backlog | €154 billion | 30 |
| 2026-05-12 | 2026-H2 | Operating net working capital | negative €8,823 million | 30 |
| 2026-05-12 | 2026-H2 | Net cash | €7,965 million | 30 |
| 2026-05-12 | 2026-H2 | effective tax rate | 25.4% | 30 |
| 2026-05-12 | 2026-H2 | book-to-bill ratio | 1.77 | 30 |
| 2026-02-11 | 2026-Q3 | Transformation of Industry profit margin | 11.8% | 29 |
| 2026-02-11 | 2026-Q3 | Transformation of Industry order backlog | 8 billion | 29 |
| 2026-02-11 | 2026-Q3 | Transformation of Industry book-to-bill ratio | 1.21 | 29 |
| 2026-02-11 | 2026-Q3 | Siemens Gamesa profit margin | (9.4)% | 29 |
| 2026-02-11 | 2026-Q3 | Siemens Gamesa order backlog | 34 billion | 29 |
| 2026-02-11 | 2026-Q3 | Siemens Gamesa book-to-bill ratio | 0.66 | 29 |
| 2026-02-11 | 2026-Q3 | Profit margin before SI | 12.0% | 29 |
| 2026-02-11 | 2026-Q3 | Profit margin | 10.4% | 29 |
| 2026-02-11 | 2026-Q3 | Order backlog | 146 billion | 29 |
| 2026-02-11 | 2026-Q3 | Grid Technologies profit margin | 17.6% | 29 |
| 2026-02-11 | 2026-Q3 | Grid Technologies order backlog | 45 billion | 29 |
| 2026-02-11 | 2026-Q3 | Grid Technologies book-to-bill ratio | 1.95 | 29 |
| 2026-02-11 | 2026-Q3 | Gas Services profit margin | 18.3% | 29 |
| 2026-02-11 | 2026-Q3 | Gas Services order backlog | 60 billion | 29 |
| 2026-02-11 | 2026-Q3 | Gas Services book-to-bill ratio | 2.83 | 29 |
| 2026-02-11 | 2026-Q3 | Diluted earnings per share | 0.78 | 29 |
| 2026-02-11 | 2026-Q3 | Book-to-bill ratio | 1.82 | 29 |
| 2025-11-13 | 2026-Q2 | Profit margin before SI | 4.5% | 27 |
| 2025-11-13 | 2026-Q2 | Profit margin | 3.1% | 27 |
| 2025-11-13 | 2026-Q2 | Order backlog | €138 billion | 27 |
| 2025-11-13 | 2026-Q2 | Book-to-bill ratio | 1.36 | 27 |
| 2025-08-06 | 2026-Q1 | Profit margin before SI | 5.1% | 26 |
| 2025-08-06 | 2026-Q1 | Order backlog | €136bn | 26 |
| 2025-08-06 | 2026-Q1 | Book-to-bill ratio | 1.70 | 26 |
| – | FY2025 | weighted average interest rate loans | 0.05% | 28 |
| – | FY2025 | weighted average fair value shares granted | €39.51 | 28 |
| – | FY2025 | weighted average DBO duration | 12 years | 28 |
| – | FY2025 | wages and salaries | 8,698 | 28 |
| – | FY2025 | variable lease payments | €72 million | 28 |
| – | FY2025 | valuation allowances contract assets | 100 (EUR in millions of €) | 28 |
| – | FY2025 | USD net position | 210 | 28 |
| – | FY2025 | unused credit facility | €4,000 million | 28 |
| – | FY2025 | treasury shares transferred value | €86 million | 28 |
| – | FY2025 | treasury shares end of year | 5,760,701 | 28 |
| – | FY2025 | total personnel costs | 10,424 (EUR in millions of €) | 28 |
| – | FY2025 | total interest income | 242 (EUR in millions of €) | 28 |
| – | FY2025 | total interest expenses | 90 (EUR in millions of €) | 28 |
| – | FY2025 | total guarantees | 188 | 28 |
| – | FY2025 | state plans contributions | 581 | 28 |
| – | FY2025 | social welfare contributions | 1,306 | 28 |
| – | FY2025 | short term debt rating sp | A-3 | 28 |
| – | FY2025 | share buyback volume | €170 million | 28 |
| – | FY2025 | share based payment expense | 110 | 28 |
| – | FY2025 | severance charges | 130 | 28 |
| – | FY2025 | sek net position | 162 | 28 |
| – | FY2025 | sei fine us doj | US$104 million | 28 |
| – | FY2025 | scope 3 upstream emissions intensity | 392 | 28 |
| – | FY2025 | scope 3 upstream emissions | 9,779,981 | 28 |
| – | FY2025 | scope 3 downstream emissions intensity order intake | 23,507 | 28 |
| – | FY2025 | scope 3 downstream emissions intensity | 35,448 | 28 |
| – | FY2025 | scope 3 downstream emissions | 1,385,215,415 | 28 |
| – | FY2025 | scope 1 2 emissions | 194,460 | 28 |
| – | FY2025 | restricted cash | €118 million | 28 |
| – | FY2025 | ratable stock awards weighted fair value | €51.99 | 28 |
| – | FY2025 | ratable stock awards granted value | €62 million | 28 |
| – | FY2025 | provisions warranties | 3,792 (EUR in millions of €) | 28 |
| – | FY2025 | proposed dividend per share | €0.70 | 28 |
| – | FY2025 | post employment benefits expenses | 421 (EUR in millions of €) | 28 |
| – | FY2025 | plan assets | 2,588 (EUR in millions of €) | 28 |
| – | FY2025 | performance stock awards senior managers | €11 million | 28 |
| – | FY2025 | other guarantees | 104 | 28 |
| – | FY2025 | net defined benefit liability | 337 | 28 |
| – | FY2025 | long-term debt rating S&P | BBB- | 28 |
| – | FY2025 | long-term debt rating Moody's | Baa2 | 28 |
| – | FY2025 | liquidity | 1,068,385 thousand | 28 |
| – | FY2025 | leases not yet commenced | €430 million | 28 |
| – | FY2025 | lease interest expenses | €61 million | 28 |
| – | FY2025 | jubilee share entitlements | 3,890,669 | 28 |
| – | FY2025 | issued capital shares | 861,104,914 | 28 |
| – | FY2025 | interest rate sensitivity 100bp | €2 million | 28 |
| – | FY2025 | interest income plan assets | 105 (EUR in millions of €) | 28 |
| – | FY2025 | guarantees third-party performance | 83 | 28 |
| – | FY2025 | green bond outstanding | €1,500 million | 28 |
| – | FY2025 | GBP net position | (50) | 28 |
| – | FY2025 | FVOCI gain Siemens Limited | €65 million | 28 |
| – | FY2025 | foreign currency hedging nominal up to 12m | €12,457 million | 28 |
| – | FY2025 | foreign currency hedging nominal over 12m | €14,646 million | 28 |
| – | FY2025 | financial liabilities total | 11,143 | 28 |
| – | FY2025 | financial assets total | 19,296 (EUR in millions of €) | 28 |
| – | FY2025 | financial assets amortized cost | 8,149 (EUR in millions of €) | 28 |
| – | FY2025 | extension options outflows | €347 million | 28 |
| – | FY2025 | energy intensity per revenue | 41 (EUR MWh/€ million) | 28 |
| – | FY2025 | energy consumption | 1,611,738 | 28 |
| – | FY2025 | employer contributions 2026 | €50 million | 28 |
| – | FY2025 | emissions intensity per revenue | 5 | 28 |
| – | FY2025 | DKK net position | (58) | 28 |
| – | FY2025 | direct match program value | €34 million | 28 |
| – | FY2025 | derivative financial liabilities fair value | 740 (EUR in millions of €) | 28 |
| – | FY2025 | derivative financial assets fair value | 1,202 (EUR in millions of €) | 28 |
| – | FY2025 | defined contribution plans expense | 308 (EUR in millions of €) | 28 |
| – | FY2025 | defined benefit obligation | 2,907 | 28 |
| – | FY2025 | current service cost | 103 (EUR in millions of €) | 28 |
| – | FY2025 | credit guarantees | 0 | 28 |
| – | FY2025 | contract assets gross | 4,394 (EUR in millions of €) | 28 |
| – | FY2025 | conditional stock awards weighted fair value | €15.29 | 28 |
| – | FY2025 | conditional stock awards reduced | 1,424,601 | 28 |
| – | FY2025 | conditional stock awards executive board | 2,136,901 | 28 |
| – | FY2025 | commercial paper program capacity | €3,000 million | 28 |
| – | FY2025 | collective bargaining coverage | 65% | 28 |
| – | FY2025 | cash flow hedges reserve | 327 (EUR in millions of €) | 28 |
| – | FY2025 | average annual benefit payments 10y | €205 million | 28 |
| – | FY2025 | AED net position | (38) | 28 |
| – | FY2025 | adjusted net debt | (4,790) | 28 |
| – | FY2025 | R&D intensity | 3.1% | 28 |
| – | FY2025 | R&D expenses | 1,210 (EUR millions of €) | 28 |
| – | FY2025 | Profit margin before Special items | 6.0% | 28 |
| – | FY2025 | Order backlog (Siemens Energy Group) | €138 billion | 28 |
| – | FY2025 | Order backlog | €138 billion | 28 |
| – | FY2025 | Order Backlog | 138 (EUR billions of €) | 28 |
| – | FY2025 | Gross profit margin (Siemens Energy AG) | 10.7% | 28 |
| – | FY2025 | GHG intensity market based | 35,704 | 28 |
| – | FY2025 | GHG intensity location based | 35,710 | 28 |
| – | FY2025 | Equity ratio | 19% | 28 |
| – | FY2025 | Book-to-bill ratio | 1.51 | 28 |
| 2025-05-12 | 2025-Q4 | Order backlog | €133bn | 25 |
| 2025-05-12 | 2025-Q4 | Book-to-bill ratio | 1.45 | 25 |
| 2025-05-08 | 2025-H2 | Service share of orders | 37% | 23 |
| 2025-05-08 | 2025-H2 | orders | 28,101 (EUR in millions of €) | 23 |
| 2025-05-08 | 2025-H2 | Order backlog | €133 billion | 23 |
| 2025-05-08 | 2025-H2 | Net cash | €5,129 million | 23 |
| 2025-05-08 | 2025-H2 | book-to-bill ratio | 1.49 | 23 |
| 2025-05-08 | 2025-Q4 | Profit margin before Special items | 9.1% | 24 |
| 2025-05-08 | 2025-Q4 | Profit margin | 6.2% | 24 |
| 2025-05-08 | 2025-Q4 | Order backlog | €133bn | 24 |
| 2025-05-08 | 2025-Q4 | Book-to-bill ratio | 1.45 | 24 |
| 2025-02-12 | 2025-Q3 | Order backlog | €131bn | 37 |
| 2025-02-12 | 2025-Q3 | book-to-bill ratio | 1.53 | 37 |
| 2025-02-12 | 2025-Q3 | Profit margin before Special items | 5.4% | 22 |
| 2025-02-12 | 2025-Q3 | Profit margin | 5.2% | 22 |
| 2025-02-12 | 2025-Q3 | Profit before Special items | 481 (EUR in millions of €) | 22 |
| 2025-02-12 | 2025-Q3 | Profit Margin before SI | 5.4% | 37 |
| 2025-02-12 | 2025-Q3 | Orders | 13,668 (EUR in millions of €) | 22 |
| 2025-02-12 | 2025-Q3 | Order backlog | 131 (EUR in billions of €) | 22 |
| 2025-02-12 | 2025-Q3 | Book-to-bill ratio | 1.53 | 22 |
| 2024-11-13 | 2025-Q2 | Transformation of Industry order backlog | ~€8bn | 19 |
| 2024-11-13 | 2025-Q2 | Siemens Gamesa order backlog | €38bn | 19 |
| 2024-11-13 | 2025-Q2 | Order backlog | €123bn | 19 |
| 2024-11-13 | 2025-Q2 | Order backlog | €123bn | 20 |
| 2024-11-13 | 2025-Q2 | Grid Technologies order backlog | €33bn | 19 |
| 2024-11-13 | 2025-Q2 | Gas Services order backlog | €45bn | 19 |
| 2024-11-13 | 2025-Q2 | Book-to-bill ratio | 1.54 | 19 |
| 2024-11-13 | 2025-Q2 | Book-to-bill ratio | 1.54 | 20 |
| 2024-08-12 | 2025-Q1 | Revenue growth (comparable basis) | 18.5% | 38 |
| 2024-08-12 | 2025-Q1 | Order backlog | €120bn | 38 |
| 2024-08-12 | 2025-Q1 | Book-to-bill ratio | above 1 | 38 |
| 2024-08-07 | 2025-Q1 | Order backlog | €120bn | 18 |
| 2024-08-07 | 2025-Q1 | Book-to-bill ratio | 1.18 | 18 |
| – | FY2024 | weighted average duration of DBO | 12 years | 21 |
| – | FY2024 | total interest income on financial assets | 174 (EUR in millions of €) | 21 |
| – | FY2024 | total interest expenses on financial liabilities | (149) | 21 |
| – | FY2024 | total guarantees | 208 | 21 |
| – | FY2024 | restricted cash | €379 million | 21 |
| – | FY2024 | provisions warranty Siemens Gamesa | 2,636 (EUR millions) | 21 |
| – | FY2024 | provisions warranties | 3,721 (EUR in millions of €) | 21 |
| – | FY2024 | provisions order-related total | 1,411 (EUR millions) | 21 |
| – | FY2024 | plan assets total | 2,473 (EUR in millions of €) | 21 |
| – | FY2024 | plan assets insurance policies | 286 (EUR in millions of €) | 21 |
| – | FY2024 | plan assets fixed income securities | 1,221 (EUR in millions of €) | 21 |
| – | FY2024 | plan assets equity securities | 454 (EUR in millions of €) | 21 |
| – | FY2024 | plan assets cash and equivalents | 23 (EUR in millions of €) | 21 |
| – | FY2024 | plan assets alternative investments | 122 (EUR in millions of €) | 21 |
| – | FY2024 | other guarantees | 63 | 21 |
| – | FY2024 | Order backlog | €123 billion | 21 |
| – | FY2024 | guarantees third-party performance | 100 | 21 |
| – | FY2024 | employer contributions to defined benefit plans | €57 million | 21 |
| – | FY2024 | defined benefit obligation attributable to retirees and surviving dependents | 32% | 21 |
| – | FY2024 | credit guarantees | 45 | 21 |
| – | FY2024 | contract liabilities | 18,867 | 21 |
| – | FY2024 | contract assets | 4,190 (EUR millions) | 21 |
| – | FY2024 | average employees administration | 7 | 21 |
| – | FY2024 | Scope 3 emissions intensity | 0.027 | 21 |
| – | FY2024 | Scope 3 emissions from use of sold products | 1,333,642 | 21 |
| – | FY2024 | R&D intensity | 3.5% | 21 |
| – | FY2024 | R&D expenses | 1,209 (EUR in millions of €) | 21 |
| – | FY2024 | property, plant and equipment | 6,220 | 21 |
| – | FY2024 | operating net working capital | -4,107 (EUR in millions of €) | 21 |
| – | FY2024 | liabilities to personnel | 1,977 | 21 |
| – | FY2024 | Equity ratio | 18% | 21 |
| – | FY2024 | Contract liabilities | 18,867 | 21 |
| – | FY2024 | Contract assets | 4,190 (EUR in millions of €) | 21 |
| – | FY2024 | Book-to-bill ratio | 1.5 | 21 |
| – | FY2024 | Adjusted net debt/ (net cash) | (1,951) | 21 |
| – | FY2024 | Adjusted net cash position | 1,951 million | 21 |
| 2024-05-13 | 2024-Q4 | Order backlog | €119bn | 17 |
| 2024-05-13 | 2024-Q4 | book-to-bill ratio | above 1 | 17 |
| 2024-05-13 | 2024-Q4 | U.S. transformer factory investment | 150 million USD | 17 |
| 2024-05-13 | 2024-Q4 | Special items | €331m | 17 |
| 2024-05-13 | 2024-Q4 | Profit before special items | €501m | 17 |
| 2024-05-13 | 2024-Q4 | Proceeds from disposals | around pos. €3bn | 17 |
| 2024-05-13 | 2024-Q4 | Orders | €9.5bn | 17 |
| 2024-05-13 | 2024-Q4 | Free Cash Flow pre-tax | up to pos. €1bn | 17 |
| 2024-05-08 | 2024-H2 | Siemens brand use expenses | 51 (EUR in millions of €) | 15 |
| 2024-05-08 | 2024-H2 | Order backlog | €119 billion | 15 |
| 2024-05-08 | 2024-H2 | Net working capital | negative €3,350 million | 15 |
| 2024-05-08 | 2024-H2 | Net cash | €1,887 million | 15 |
| 2024-05-08 | 2024-H2 | Guarantees issued JV associates | 48 | 15 |
| 2024-05-08 | 2024-H2 | Commitments capital contributions | 118 (EUR in millions of €) | 15 |
| 2024-05-08 | 2024-H2 | Central corporate services expenses | 101 | 15 |
| 2024-05-08 | 2024-H2 | book-to-bill ratio | 1.56 | 15 |
| 2024-05-08 | 2024-Q4 | Profit margin before SI | 2.1% | 16 |
| 2024-05-08 | 2024-Q4 | Profit margin | 6.1% | 16 |
| 2024-05-08 | 2024-Q4 | Order backlog | €119bn | 16 |
| 2024-05-08 | 2024-Q4 | Book-to-bill ratio | 1.14 | 16 |
| 2024-05-08 | 2024-Q4 | Adjusted net debt/(net cash) | (1,300) | 16 |
| 2024-02-29 | 2024-Q3 | Order Backlog | 118 (EUR in €bn) | 14 |
| 2024-02-07 | 2024-Q3 | Profit margin before special items | 2.7% | 13 |
| 2024-02-07 | 2024-Q3 | Profit margin | 24.6% | 13 |
| 2024-02-07 | 2024-Q3 | Profit before special items | 208 (EUR in millions of €) | 13 |
| 2024-02-07 | 2024-Q3 | Orders | 15,381 (EUR in millions of €) | 13 |
| 2024-02-07 | 2024-Q3 | Order backlog | €118bn | 13 |
| 2024-02-07 | 2024-Q3 | Book-to-bill ratio | 2.01 | 13 |
| 2023-11-30 | 2024-Q2 | Order backlog | 112 (EUR in €bn) | 12 |
| 2023-11-30 | 2024-Q2 | Guarantees total | 12 | 12 |
| 2023-11-30 | 2024-Q2 | Guarantees from consortium | 11 | 12 |
| 2023-11-30 | 2024-Q2 | Guarantees counter-guaranteed | 7.5 | 12 |
| 2023-11-30 | 2024-Q2 | book-to-bill ratio | 1.62 | 12 |
| 2023-11-15 | 2024-Q2 | Profit margin before SI | (5.7)% | 11 |
| 2023-11-15 | 2024-Q2 | Profit margin | (6.5)% | 11 |
| 2023-11-15 | 2024-Q2 | Planned electrolyzer factory capacity by 2025 | at least three gigawatts | 10 |
| 2023-11-15 | 2024-Q2 | Order backlog | €112 bn | 10 |
| 2023-11-15 | 2024-Q2 | Order backlog | €112bn | 11 |
| 2023-11-15 | 2024-Q2 | Net financial debt | €0.2 billion | 10 |
| 2023-11-15 | 2024-Q2 | Electrolyzer factory production capacity | one gigawatt | 10 |
| 2023-11-15 | 2024-Q2 | Book-to-bill ratio | 1.24 | 11 |
| 2023-11-15 | 2024-Q2 | Adjusted net debt | 759 (EUR in millions of €) | 11 |
| 2023-08-16 | 2024-Q1 | Order backlog | €109.0bn | 8 |
| 2023-08-16 | 2024-Q1 | Cash and cash equivalents | €4.4bn | 8 |
| 2023-08-16 | 2024-Q1 | Book-to-bill ratio | 1.98 | 8 |
| 2023-08-07 | 2024-Q1 | Order backlog | €109.0bn | 6 |
| 2023-08-07 | 2024-Q1 | book-to-bill ratio | 1.98 | 6 |
| 2023-05-22 | 2023-Q4 | Order book | €102bn | 4 |
| 2023-05-22 | 2023-Q4 | Comparable revenue growth | +23.8% | 4 |
| 2023-05-22 | 2023-Q4 | Comparable orders growth | +56.3% | 4 |
| 2023-05-15 | 2023-H2 | Order backlog | €102 billion | 2 |
| 2023-05-15 | 2023-H2 | Operating net working capital | negative €1,720 million | 2 |
| 2023-05-15 | 2023-H2 | Net debt | €101 million | 2 |
| 2023-05-15 | 2023-H2 | book-to-bill ratio | 1.66 | 2 |
| 2023-05-15 | 2023-H2 | Provisions for warranties, litigations, project risks | €813 million | 2 |
| 2023-05-15 | 2023-Q4 | Profit margin before SI | 0.5% | 3 |
| 2023-05-15 | 2023-Q4 | Profit margin | 0.8% | 3 |
| 2023-05-15 | 2023-Q4 | Order backlog | 102 billion € | 3 |
| 2023-05-15 | 2023-H2 | Lease right-of-use assets | 261 (EUR in millions of €) | 2 |
| 2023-05-15 | 2023-H2 | Lease liabilities | 280 | 2 |
| 2023-05-15 | 2023-H2 | Guarantee volume from Siemens Group prior year | €8,784 million | 2 |
| 2023-05-15 | 2023-H2 | Guarantee volume from Siemens Group | €7,365 million | 2 |
| 2023-05-15 | 2023-Q4 | Book-to-bill ratio | 1.53 | 3 |
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Guidance Tracking (latest per metric/period · 56/94)#
All management forecasts (guidance) and their later outcome. Types: fiscal-year targets as well as quarterly/half-year targets; per metric and period the most recent statement applies, older versions can be expanded. The status is checked automatically against the actuals reported later: open (period still running), met, beaten, missed. For ranges (“X to Y”) reaching the range counts. Logged neutrally, no estimate of our own, no assessment.
Actuals: revenue in €m · ratios in %
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| FY2028 | 2025-11-13 | Profit margin before Special items | 14–16% | – | pending | raised | 27 |
| FY2028 | 2024-11-13 | Revenue | high single-digit to low double-digit percentage range | – | pending | initiated | 19 |
| FY2028 | 2024-11-13 | Profit margin | 10–12% | – | pending | initiated | 19 |
| FY2028 | 2024-11-13 | Gas Services profit margin | 10–12% | – | pending | initiated | 19 |
| FY2028 | 2024-11-13 | Grid Technologies profit margin before SI | 10–12% | – | pending | initiated | 19 |
| FY2028 | 2024-11-13 | Transformation of Industry profit margin before SI | 8–10% | – | pending | initiated | 19 |
| FY2026 | 2026-08-12 | Revenue growth (YoY) | 16–18% | – | pending | confirmed | 36 |
| FY2026 | 2026-08-12 | Profit margin before Special Items | 14–16% | – | pending | raised | 36 |
| FY2026 | 2026-08-05 | Grid Technologies Revenue | 25–27% | – | pending | confirmed | 35 |
| FY2026 | 2026-08-05 | Siemens Gamesa Revenue | 3–5% | – | pending | confirmed | 35 |
| FY2026 | 2026-05-22 | Profit margin before SI | 10–12% | – | pending | raised | 34 |
| FY2026 | 2026-05-12 | Free Cash Flow pre tax | ~8,000 | – | pending | confirmed | 36 |
| FY2026 | 2026-05-12 | Net income | ~4,000 | – | pending | raised | 34 |
| FY2026 | 2026-05-12 | Grid Technologies Profit margin before Special items | 18–20% | – | pending | confirmed | 35 |
| FY2026 | 2026-05-12 | revenue growth (comparable) | 14–16% | – | pending | raised | 30 |
| FY2026 | 2026-05-12 | Gas Services comparable revenue growth | 16–18% | – | pending | confirmed | 30 |
| FY2026 | 2026-05-12 | Grid Technologies comparable revenue growth | 25–27% | – | pending | raised | 30 |
| FY2026 | 2026-05-12 | Transformation of Industry comparable revenue growth | 5–7% | – | pending | confirmed | 30 |
| FY2026 | 2026-05-12 | Siemens Gamesa comparable revenue growth | 3–5% | – | pending | raised | 30 |
| FY2026 | 2026-05-12 | Revenue growth (comparable basis) | 14–16% | – | pending | raised | 33 |
| FY2026 | 2026-02-11 | Gas Services Revenue | 16–18% | – | pending | confirmed | 35 |
| FY2026 | 2026-02-11 | Gas Services Profit margin before Special items | 14–16% | – | pending | confirmed | 35 |
| FY2026 | 2026-02-11 | Transformation of Industry Revenue | 5–7% | – | pending | confirmed | 35 |
| FY2026 | 2026-02-11 | Transformation of Industry Profit margin before Special items | 11–13% | – | pending | confirmed | 35 |
| FY2026 | 2023-11-30 | Revenue | Mid single digit | – | pending | initiated | 12 |
| FY2026 | 2023-11-30 | profit_margin | 5–7% | – | pending | initiated | 12 |
| FY2026 | 2023-11-30 | gas_services_margin | 9–11% | – | pending | initiated | 12 |
| FY2026 | 2023-11-30 | grid_technologies_margin | 9–11% | – | pending | initiated | 12 |
| FY2026 | 2023-11-30 | transformation_industry_margin | 7–9% | – | pending | initiated | 12 |
| FY2026 | – | Comparable revenue growth | 11–13% | – | pending | confirmed | 28 |
| FY2025 | 2025-05-12 | Profit margin before SI | 4–6% | – | – | raised | 25 |
| FY2025 | 2025-05-08 | Revenue growth (YoY) | 13–15% | 13.4 | in line | raised | 23 |
| FY2025 | 2025-05-08 | Net Income | 1,000 | – | – | confirmed | 26 |
| FY2025 | 2025-05-08 | Free cash flow pre tax | 4,000 | – | – | confirmed | 26 |
| FY2025 | 2025-05-08 | Comparable revenue growth | 13–15% | – | – | raised | 25 |
| FY2025 | 2025-05-08 | Profit margin before Special items | 4–6% | – | – | raised | 23 |
| FY2025 | 2025-05-08 | negative Profit before Special items | 1,300 | – | – | confirmed | 23 |
| FY2025 | 2025-05-08 | Gas Services comparable revenue growth | 11–13% | – | – | raised | 24 |
| FY2025 | 2025-05-08 | Gas Services Profit margin before Special items | 11–13% | – | – | raised | 24 |
| FY2025 | 2025-05-08 | Grid Technologies comparable revenue growth | 24–26% | – | – | raised | 24 |
| FY2025 | 2025-05-08 | Grid Technologies Profit margin before Special items | 14–16% | – | – | raised | 24 |
| FY2025 | 2025-05-08 | Transformation of Industry comparable revenue growth | 13–15% | – | – | raised | 24 |
| FY2025 | 2025-05-08 | Transformation of Industry Profit margin before Special items | 9–11% | – | – | raised | 24 |
| FY2025 | 2025-05-08 | Siemens Gamesa comparable revenue growth | 0–2% | – | – | raised | 24 |
| FY2025 | 2025-02-12 | Gas Services revenue | 7–9% | – | – | confirmed | 22 |
| FY2025 | 2025-02-12 | Grid Technologies revenue | 23–25% | – | – | confirmed | 22 |
| FY2025 | 2025-02-12 | Transformation of Industry revenue | 11–13% | – | – | confirmed | 22 |
| FY2025 | 2025-02-12 | Siemens Gamesa revenue | 5–9% | – | – | confirmed | 22 |
| FY2025 | 2024-11-13 | Siemens Gamesa Profit before Special Items | 1,300 | – | – | confirmed | 24 |
| FY2025 | 2024-11-13 | Gas Services Revenue growth | 7–9% | – | – | initiated | 19 |
| FY2025 | 2024-11-13 | Grid Technologies Revenue growth | 23–25% | – | – | initiated | 19 |
| FY2025 | 2024-11-13 | Transformation of Industry Revenue growth | 11–13% | – | – | initiated | 19 |
| FY2025 | 2024-11-13 | Siemens Gamesa Revenue growth | -9–-5% | – | – | initiated | 19 |
| FY2025 | 2024-11-13 | Siemens Gamesa Profit before SI | ~-1,300 | – | – | initiated | 19 |
| FY2025 | 2024-11-13 | Siemens Energy Revenue growth | 8–10% | – | – | initiated | 19 |
| FY2025 | 2024-11-13 | Siemens Energy Profit margin before SI | 3–5% | – | – | initiated | 19 |
| FY2024 | 2024-08-12 | Revenue | 8,800 | 34,465 | beat | confirmed | 38 |
| FY2024 | 2024-08-12 | Profit Margin before SI | -1% | – | – | confirmed | 38 |
| FY2024 | 2024-08-12 | Siemens Gamesa Profit before SI | 2,000 | – | – | initiated | 38 |
| FY2024 | 2024-08-07 | Revenue growth (YoY) | 10–12% | 10.8 | in line | confirmed | 18 |
| FY2024 | 2024-08-07 | Free Cash Flow pre tax | 1,000–1,500 | – | – | raised | 38 |
| FY2024 | 2024-05-13 | Comparable revenue growth | 10–12% | – | – | raised | 17 |
| FY2024 | 2024-05-08 | Profit margin before special items | 1% | – | – | confirmed | 18 |
| FY2024 | 2024-05-08 | Gas Services comparable revenue growth | 0–2% | – | – | – | 18 |
| FY2024 | 2024-05-08 | Grid Technologies comparable revenue growth | 32–34% | – | – | raised | 17 |
| FY2024 | 2024-05-08 | Grid Technologies Profit margin before Special Items | 8–10% | – | – | – | 18 |
| FY2024 | 2024-05-08 | Transformation of Industry comparable revenue growth | 14–16% | – | – | – | 18 |
| FY2024 | 2024-05-08 | Siemens Gamesa comparable revenue growth | 10–12% | – | – | – | 18 |
| FY2024 | 2024-05-08 | Revenue growth (comparable basis) | 10–12% | – | – | raised | 15 |
| FY2024 | 2024-05-08 | Proceeds from disposals and portfolio transformation | 3,000 | – | – | raised | 15 |
| FY2024 | 2024-02-29 | Proceeds from disposals | -3,000–2,500 | – | – | confirmed | 14 |
| FY2024 | 2023-11-30 | profit_margin | -2–-1% | – | – | initiated | 12 |
| FY2024 | 2023-11-30 | FCF pre-tax | 1,000 | – | – | initiated | 12 |
| FY2024 | 2023-11-30 | Grid Technologies revenue | 18–22% | – | – | initiated | 12 |
| FY2024 | 2023-11-30 | Transformation of Industry revenue | 8–12% | – | – | initiated | 12 |
| FY2024 | 2023-11-30 | Siemens Gamesa revenue | 0–4% | – | – | initiated | 12 |
| FY2024 | 2023-11-15 | Net income | 1,000 | – | – | confirmed | 18 |
| FY2024 | 2023-11-15 | Gas Services Profit margin before Special Items | 9–11% | – | – | – | 18 |
| FY2024 | 2023-11-15 | Transformation of Industry Profit margin before Special Items | 5–7% | – | – | – | 18 |
| FY2024 | 2023-11-15 | Siemens Gamesa profit before special items | 2,000 | – | – | – | 18 |
| FY2024 | 2023-11-15 | Free cash flow before taxes | 1,000 | – | – | initiated | 10 |
| FY2023 | 2023-08-16 | Revenue growth (YoY) | 9–11% | – | – | cut | 8 |
| FY2023 | 2023-08-07 | Operating income | 8–10% | – | – | cut | 8 |
| FY2023 | 2023-08-07 | Net income | 4,500 | – | – | cut | 8 |
| FY2023 | 2023-05-15 | Profit margin before special items | 1–3% | – | – | cut | 4 |
| FY2023 | 2023-05-15 | Net loss | 712 | – | – | cut | 4 |
| FY2023 | 2023-05-15 | Gas Services comparable revenue growth | 10–12% | – | – | raised | 2 |
| FY2023 | 2023-05-15 | Gas Services Profit margin before Special items | 9–11% | – | – | confirmed | 2 |
| FY2023 | 2023-05-15 | Grid Technologies comparable revenue growth | 12–14% | – | – | raised | 2 |
| FY2023 | 2023-05-15 | Grid Technologies Profit margin before Special items | 6–8% | – | – | confirmed | 2 |
| FY2023 | 2023-05-15 | Transformation of Industry comparable revenue growth | 8–10% | – | – | raised | 2 |
| FY2023 | 2023-05-15 | Transformation of Industry Profit margin before Special items | 3–5% | – | – | confirmed | 2 |
| FY2023 | 2023-05-15 | Siemens Gamesa comparable revenue growth | 6–10% | – | – | initiated | 2 |
| FY2023 | 2023-05-15 | Siemens Gamesa profit margin before special items | 11% | – | – | initiated | 2 |
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Development#
A condensed summary per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. Most recent period first, grouped by year; each text is written from the original report of that period, superscript numbers lead to the source.
FY2027
In the first quarter of fiscal year 2027, Siemens Energy reported record orders of €17.9bn driven by strong demand in the United States, the Middle East, and Asia for new power plants and data centers, with the order backlog reaching €162bn and a book-to-bill ratio of 1.57 35 36. Revenue rose 18.5% on a comparable basis to €11.4bn, the highest quarterly figure to date, supported by capacity expansion progress across the group 35. Profit before Special items more than tripled to €1,623m, with all segments delivering improvements, while free cash flow pre tax rose significantly to €2,319m 35. Siemens Gamesa returned to profitability for the first time since fiscal year 2022, posting profit before Special items of €75m 35. The company raised its fiscal year guidance towards the upper end of the profit margin range and began preparations for a transition to an independent brand named Omterra 36.
FY2026
In FY2026, Siemens Energy delivered quarterly revenues of 9,675, 10,300, and 11,400 across Q1 through Q3, with growth recorded across all segments in each period 29 34 36. Quarterly profit before special items reached 1,159, 1,164, and 1,623 in Q1, Q2, and Q3 respectively, reflecting broad profitability improvement including a marked recovery at Siemens Gamesa 29 33 36. Order intake reached successive record highs throughout the reported periods, with the backlog rising to €154 billion at end of H1 FY2026, supported by strong demand from data centers and power capacity expansion in Europe and the U.S. 30. The full-year FY2026 guidance was raised in May 2026 to comparable revenue growth of 14-16%, profit margin before special items of 10-12%, net income of around €4 billion, and free cash flow pre tax of around €8 billion, from prior targets of 11-13%, 9-11%, €3-4 billion, and €4-5 billion respectively 30. The company also initiated a share buyback program of up to €2,000 million and received credit rating upgrades from Standard & Poor's to BBB and Moody's to Baa1 during H1 FY2026 30.
FY2025
Siemens Energy AG closed fiscal year 2025 with full-year revenue of 39,077 30 and net income of 1,685 with diluted earnings per share of 1.60 28. Profit before special items rose to €2,355 million from €345 million in the prior year, with improvements across Gas Services, Grid Technologies, Transformation of Industry, and continued turnaround progress at Siemens Gamesa 28. Orders grew significantly to approximately €59 billion and the order backlog reached a record €138 billion at year-end, with approximately €37 billion expected to convert to revenue in fiscal year 2026 28. Free cash flow of 5,754 and a net cash position of 5,196 supported the proposed reinstatement of a dividend of €0.70 per share, one year earlier than originally anticipated, subject to Shareholders' Meeting approval in February 2026 28. Standard and Poor's revised its credit outlook from negative to positive and Moody's assigned a first-time investment-grade rating of Baa2, both with positive outlook 28.
FY2024
Siemens Energy AG reported full-year revenue of 34,465 million for fiscal 2024, representing 12.8% comparable revenue growth as all segments contributed positively to the result 21. Operating income reached 2,125 million compared to a loss of €3,257 million in fiscal 2023, while net income recovered to 1,335 million from a loss of approximately €4.6 billion in the prior year, with the full-year result including special items of €2,038 million primarily from disposal gains on the Siemens Limited India stake, Windar Renovables, and Trench Group 21. The order backlog expanded to a record €123 billion with a book-to-bill ratio of 1.46, underpinned by strong global electricity demand and energy transition investment 21. Cash and cash equivalents rose to 6,363 million at year-end and the company reported a net cash position of 2,596 million, having transitioned from a net debt position at the end of fiscal 2023 through positive operating cash flow and proceeds from divestitures 21. Siemens Gamesa losses were significantly reduced, onshore quality issues were stabilized with no new technical findings reported during the year, and the offshore SG14-236 turbine entered production as part of the multi-year wind business restructuring plan targeting break-even in fiscal 2026 21.
FY2023
Siemens Energy AG recorded full-year fiscal 2023 revenue of 31,119 123, with an operating loss of 3,257 and a net loss of 4,588, equivalent to EPS of -5.47 123. Revenue increased 20% on a comparable basis in the first half of fiscal 2023, with all segments achieving growth led by Gas Services 2. Siemens Gamesa identified an extraordinarily negative development of failure rates in specific components, resulting in a €472 million warranty and maintenance cost adjustment that was a primary driver of losses across the year 2. The order backlog exceeded €100 billion for the first time, reaching a record €102 billion, and Grid Technologies secured the largest order in Siemens Energy history for an offshore grid connection in Germany 2. At fiscal year-end, cash stood at 4,588 and net debt was 193 123.
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Glossary#
- Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
- Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
- Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
- EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
- FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
- OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
- Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
- Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
- *: derived, the formula is in the hover
- ≈: calculated, approximation
- ~: uncertain; the value stays visible, verdicts do not use it
- °: repaired by a targeted query against the document, or curated with documentary evidence
- EBIT: EBIT as a fallback: the income statement carries no operating line
- basic: basic earnings per share as a fallback when diluted is missing
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Sources: official investor relations documents#
All original documents used, with type (e.g. quarterly, half-year, annual report), publication date and a direct link to the filing (EDINET/SEC/IR). Every superscript number in the report points to an entry in this list; so every figure can be traced back to its place in the original.
38 documents · 2023 – 2026 · IR
| # | Document type | Published | Link |
|---|---|---|---|
| #21 / #123 | IR-Annual | – | Open |
| #28 / #133 | IR-Annual | – | Open |
| #1 | IR-Report | 2023-05-15 | Open |
| #2 | IR-Half | 2023-05-15 | Open |
| #3 / #103 | IR-Quarter | 2023-05-15 | Open |
| #4 | IR-Quarter | 2023-05-22 | Open |
| #5 | IR-Report | 2023-08-07 | Open |
| #6 / #106 | IR-Quarter | 2023-08-07 | Open |
| #7 | IR-Quarter | 2023-08-07 | Open |
| #8 | IR-Quarter | 2023-08-16 | Open |
| #9 | IR-Annual | 2023-11-15 | Open |
| #10 | IR-Quarter | 2023-11-15 | Open |
| #11 / #112 | IR-Quarter | 2023-11-15 | Open |
| #12 | IR-Quarter | 2023-11-30 | Open |
| #13 / #115 | IR-Quarter | 2024-02-07 | Open |
| #14 | IR-Quarter | 2024-02-29 | Open |
| #15 / #117 | IR-Half | 2024-05-08 | Open |
| #16 / #118 | IR-Quarter | 2024-05-08 | Open |
| #17 | IR-Quarter | 2024-05-13 | Open |
| #18 / #120 | IR-Quarter | 2024-08-07 | Open |
| #38 | IR-Quarter | 2024-08-12 | Open |
| #19 | IR-Quarter | 2024-11-13 | Open |
| #20 / #122 | IR-Quarter | 2024-11-13 | Open |
| #22 / #125 | IR-Quarter | 2025-02-12 | Open |
| #37 | IR-Quarter | 2025-02-12 | Open |
| #23 | IR-Half | 2025-05-08 | Open |
| #24 / #127 | IR-Quarter | 2025-05-08 | Open |
| #25 | IR-Quarter | 2025-05-12 | Open |
| #26 | IR-Quarter | 2025-08-06 | Open |
| #27 / #130 | IR-Quarter | 2025-11-13 | Open |
| #29 / #134 | IR-Quarter | 2026-02-11 | Open |
| #30 / #136 | IR-Half | 2026-05-12 | Open |
| #31 | IR-Report | 2026-05-12 | Open |
| #32 | IR-Report | 2026-05-12 | Open |
| #33 / #139 | IR-Quarter | 2026-05-12 | Open |
| #34 | IR-Quarter | 2026-05-22 | Open |
| #35 / #141 | IR-Quarter | 2026-08-05 | Open |
| #36 | IR-Quarter | 2026-08-12 | Open |
FAQ#
Is there a management forecast (guidance) for FY2026?
Yes. Management has issued targets for FY2026, including Revenue growth (YoY). The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.
Which additional key figures does Siemens Energy AG report?
As reported for Q3 2026: Order backlog, Book-to-bill ratio, Profit margin, Profit margin before SI, Transformation of Industry order backlog, Siemens Gamesa order backlog. The chapter Reported KPIs lists every value with its source. Revenue is broken down by Gas Services, Grid Technologies, Transformation of Industry, SGRE.
Does Siemens Energy AG pay a dividend?
The filings report on the dividend; most recent entry: dividend per share €0.70 (FY2025) (as reported, no assessment of our own). Details with source links are in the report chapters.
Where can I find the official investor relations documents of Siemens Energy AG?
The sources chapter links all 55 original filings used (IR documents) with type, publication date and a direct link; every figure in the report carries a source number.
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