Siemens Energy expects €1bn profit amid booming electricity demand

The energy technology group earns more and more and expects more profit. This brings the bailout for the board closer: the repayment of the state guarantees.

Siemens Energy Lifts Guidance on Gas, Electricity Growth

(Bloomberg) — Siemens Energy AG shares surged after the company substantially raised its revenue and net income outlook for the fiscal year, citing demand for gas turbines, gas services and electricity products.

Siemens Energy expects €1bn profit amid booming electricity demand

German manufacturer of gas turbines had expected to break even but decarbonisation and AI data centres have driven revenues

Siemens Energy Lifts Revenue Guidance on Gas, Electricity Growth

Siemens Energy AG substantially raised its revenue and net income outlook for the fiscal year, citing demand for gas turbines, gas services and electricity products.

Siemens Energy has achieved a net profit of 615 million euros in its second fiscal quarter, according to the preliminary results reported. On its side, the turnover of the company reached 9,962 million euros, representing an increase of the turnover of 20.7% year-on-year. This figure represents an improvement of the forecasts of Siemens Energy for the second quarter, in which it expected to reach a turnover of 9,319 million euros. For gas servic…

By business lines, the gas services division has obtained revenues of 3,163 million euros, 18.7% more in comparable terms, while the profit before extraordinary ones has been located at 511 million euros, with a margin of 16.1%. Network technologies has reported 2,861 million euros in sales, with a profit before extraordinary departures of 571 million euros, while line of transformation of the industry has added 1,411 million euros in revenues a…