Siemens Energy revenue jumps 15.5% to €44.2 billion in record year
Key Facts
Siemens Energy said on November 11, 2026, that comparable revenue for the fiscal year ended September 30 rose 15.5% to €44.2 billion, in what the company called a record year. Group net income rose to €4.129 billion, compared with €1.685 billion in the previous fiscal year. The company said orders increased 18.8% to €68.1 billion, while its book-to-bill ratio was 1.54. The order backlog reached a record €164 billion at the end of the fiscal year. The figures reflect simultaneous growth in revenue and orders, while the company’s outlook for the following year shows it aims to continue expanding.
Profit before special items improved to €5.5 billion, more than doubling, and the comparable profit margin rose to 12.4% from 6.0% in fiscal 2025. Free cash flow before tax also nearly doubled to €8.8 billion, exceeding the company’s target of about €8 billion. Net income rose to €4.129 billion from €1.685 billion, a separate measure from operating profit before special items. The results indicated improvement in earnings and liquidity alongside sales growth. The company proposed a dividend of €2.30 per share for fiscal 2026, compared with €0.70 per share for the previous year, according to Reuters.
Improvement at Siemens Gamesa was one of the group’s notable shifts; its profit before special items improved by about €1.4 billion year on year. The unit recorded profit before special items of €8 million for fiscal 2026, after a loss of €1.4 billion in fiscal 2025. The comparison indicates the unit reached break-even for the full year, following the previous year’s losses. In another business, Reuters said orders related to data centers for gas turbines and grid equipment totaled about €15 billion. That represents 9.1% of the €164 billion order backlog, according to the report published on November 11.
Chief Executive Christian Bruch told Reuters that demand for electricity needed by data centers "is still there, and will continue in the future." But he warned that "some data center growth rates were unrealistic." The comments came as orders for gas turbines and grid equipment related to data centers highlighted one source of demand for the company’s products. In trading on November 11, the stock was up 8.4% at 10:23 GMT, according to Reuters. Late on Tuesday, the stock had recorded the company’s announcement of a new share buyback program worth up to €9 billion.
The company aims to continue improving margins in fiscal 2027, forecasting comparable revenue growth of between 14% and 16%, a profit margin before special items of between 14% and 16%, and net income of about €5 billion. The margin range forecast for next year compares with 12.4% recorded in 2026; the average of analyst estimates compiled by the company was 14.7%. Over the longer term, Siemens Energy is targeting compound annual revenue growth of between 12% and 14%, and a profit margin of between 20% and 22% by 2030. The company said it plans additional share buybacks worth up to €9 billion through the end of fiscal 2030. Its plan also includes the Transformation of Industry unit; investor discussions about it will begin in the spring, and the company does not expect to complete the divestment before 2028, while retaining a stake of more than 20%.