MUNICH, Germany — Siemens Energy today announced its results for the second quarter of fiscal year 2026 that ended March 31, 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”, says Christian Bruch, President and CEO of Siemens Energy AG.
- Siemens Energy delivered record order levels, driven in particular by strong demand in the U.S., resulting in a record order backlog and broad-based improvements across all key performance indicators compared with the prior‑year quarter.
- Siemens Energy achieved a new all‑time high in orders of €17.7bn driven by another record level of orders at Gas Services and a sharp increase in Grid Technologies year-over-year. Book‑to‑bill ratio (ratio of orders to revenue) was 1.72, and order backlog reached €154bn for the quarter.
- On a comparable basis (excluding currency translation and portfolio effects), revenue increased by 8.9% year‑over‑year to €10.3bn, supported by all segments.
- Profit before Special items rose substantially year‑over-year to €1,164m (Q2 FY 2025: €906m), mainly due to the profit improvement at Siemens Gamesa. Special items amounted to negative €55m (Q2 FY 2025: negative €291m). Siemens Energy’s Profit came in at €1,109m (Q2 FY 2025: €615m).
- Net income also increased sharply to €835m (Q2 FY 2025: €501m). Corresponding basic earnings per share amounted to €0.89 (Q2 FY 2025: €0.50).
- Free cash flow pre tax increased to €1,975m (Q2 FY 2025: €1,390m). The sharp increase followed the profit improvement and was also strongly supported by customer advance payments related to the high level of orders.
- Based on the positive business development, Siemens Energy raised its outlook for fiscal year 2026. Siemens Energy now expects for the Group to achieve comparable revenue growth in a range of 14% to 16% and a Profit margin before Special items between 10% and 12%. Siemens Energy now expects a Net income of around €4bn. Also, the outlook for Free cash flow pre tax for the fiscal year 2026 was raised to around €8bn.
Outlook
Based on the positive business development in the first half-year and the strong market demand, Siemens Energy raised its outlook for fiscal year 2026. The change in the outlook is mainly driven by a stronger than expected performance at Grid Technologies. Regarding Free cash flow pre tax, the higher outlook is particularly attributable to Gas Services and Grid Technologies, which both experience strong cash inflows driven by customer payments related to strong order momentum.
Siemens Energy now expects for the Group to achieve comparable revenue growth (excluding currency translation and portfolio effects) in fiscal year 2026 in a range of 14% to 16% (before 11% to 13%) and a Profit margin before Special items between 10% and 12% (before between 9% and 11%). Siemens Energy now expects a Net income of around €4bn (before in the range of €3bn to €4bn). Also, the outlook for Free cash flow pre tax for the fiscal year 2026 was raised to around €8bn (before in a range of €4bn to €5bn).
The outlook for Siemens Energy does not include charges related to any future legal and regulatory matters.
Amended overall assumptions per business area
- Gas Services assumes a comparable revenue growth of 16% to 18% and a Profit margin before Special items of 14% to 16% (both unchanged).
- Grid Technologies now plans to achieve a comparable revenue growth of 25% to 27% (before 19% to 21%) and a Profit margin before Special items between 18% and 20% (before between 16% and 18%).
- Transformation of Industry expects a comparable revenue growth of 5% to 7% and a Profit margin before Special items of 11% to 13% (both unchanged).
- Siemens Gamesa now assumes a comparable revenue growth of 3% to 5% (before 1% to 3%) and a Profit margin before Special items still at break-even.