Siemens Energy raises outlook as demand for power equipment soars (updated)

Siemens Energy AG

23/04/2026 17:15

Adds shares in paragraph 4, context in paragraph 6, second quarter results in paragraph 7-8

Expects sales to grow by 14-16%, profit margin of 10-12%

Q2 sales up 8.9% at 10.3 billion euros

Frankfurt-listed Siemens Energy shares rise 6.6%

By Christoph Steitz

FRANKFURT, April 23 (Reuters) - Siemens Energy ENR1n.DE on Thursday raised its outlook for 2026 after a jump in second-quarter orders and profits, joining peers in benefiting from a surge in demand for data centres that require power equipment the German company supplies.

Citing "positive business development" and strong market demand, Siemens Energy said it now expects sales to grow by 14-16%, up from 11-13% previously, while its profit margin before special items is now forecast at 10-12%, up from 9-11%.

The boost in demand for gas turbines and grid components, fuelled by energy-hungry data centres, also saw U.S. rival GE Vernova GEV.N raise its annual revenue and profit forecasts on Wednesday.

Frankfurt-listed shares in Siemens Energy ENR1n.F rose following the results to trade 6.6% higher at 1640 GMT.

The group's stock hit a fresh record high earlier on Thursday, making it Germany's third-most valuable company after former parent Siemens SIEGn.DE and SAP SAPG.DE with a market value of around 158 billion euros ($185 billion).

The rise has been fuelled by strong global demand for gas turbines and power grid equipment, as governments around the world rely on fossil fuel-based round-the-clock supply, and modernise ageing energy networks.

Siemens Energy also released preliminary second-quarter results ahead of their official publication on May 12, showing sales increased 8.9% to 10.3 billion euros ($12.1 billion), while profit before special items rose 28% to 1.16 billion.

 Its struggling wind division Siemens Gamesa - closely watched by investors to see whether it can break even this year - narrowed its quarterly operating loss to 44 million euros, compared with a 249 million loss in the same period last year.

($1 = 0.8544 euros)

(Reporting by Christoph Steitz; Editing by Kirsten Donovan and Keith Weir)

((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))