08-05-2025
Siemens Energy reports 'one of the strongest quarters ever'
The lettering "Siemens" stands at the Siemens headquarters on Werner von Siemens Strasse. Felix Hörhager/dpa
Siemens Energy reported a fivefold increase in profit for the second quarter, driving an upward revision of its full-year guidance for fiscal year 2025 despite ongoing challenges at its turbine-maker subsidiary Gamesa.
The renewable energy company posted a quarterly profit of €501 million ($566 million) after taxes, compared to €103 million in the same period last year, calling it "one of the strongest quarters ever," with revenue increasing double-digit in all segments.
Siemens Energy raised its full-year net income forecast to up to €1 billion, excluding special items.
"The rising demand for electricity led to an exceptionally strong quarter and first half of the fiscal year for our business," chief executive Christian Bruch said. "The improved outlook reflects our confidence in the ongoing market opportunities."
Siemens Energy also stated that the impact of the US tariffs on its business would be limited, with the financial impact expected to reach up to a high double-digit million-euro amount in the second half of the fiscal year.
This is a relatively low impact compared to other industries, such as the automotive sector.
While difficulties at struggling wind power unit Gamesa are not entirely resolved, with the subsidiary again posting a significant loss, this was more than offset by strong performance in gas services and grid technology.
