Siemens Energy announce strong start to the financial year

11 Feb Siemens Energy announce strong start to the financial year

(Oilandgaspress) -] Siemens Energy reported a strong performance from the previous fiscal year in the first quarter of 2026. Thanks to the continuing favorable market environment, driven in part by the rapid expansion of data centers, orders reached a new record level. Revenue and cash flow improved significantly, and earnings more than doubled compared to the previous year.

Key highlights from the business areas (segments)
Gas Services: Gas Services delivered its strongest quarter ever in terms of order intake, booking 102 gas turbines. 12 gigawatts were converted from existing reservation agreements, at and the same time 12 gigawatts of new reservations. Q1 orders were 40% from the US, 35% from Europe, and 15% from the Middle East and China. The Business Area saw a sharp increase in Profit before Special items thanks to improved margin quality in the new unit business (Profit margin before Special items: 16.6%).

Grid Technologies: Strong increase in orders here as well, compared with Q1 in 2025 (21,8%). Growth was driven by robust demand across both products and solutions. The US contributed with several data-center-related orders amounting to a high triple-digit-millioneuro volume. Globally, customers are accelerating investments in transmission capacity to integrate rising power capacities and strengthen grid stability. Strong business growth led to an equally strong increase in profit (profit margin before Special items: 17.6%).

Transformation of Industry: Strong improvement in order intake, driven in particular by compressors and electrification. Large new unit orders in the Middle East.

Siemens Gamesa: Compared with the very strong prior-year quarter, orders were lower at €1.5 billion (–33.7%). This is due to an exceptionally large offshore order in the North Sea from the previous year, which alone accounted for over €1.4 billion. On the other hand, the significant improvement in operating profit, which reached –€46 million, is encouraging. Due to one-time negative special effects in connection with the completion of the sale of our Indian wind business (€175 million), the profit came in at –€221 million.

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