Siemens Energy accelerates profitable growth in Q3 FY2026 in the U.S.; Record €17.9bn orders

Siemens Energy accelerates profitable growth in Q3 FY2026 in the U.S.; Record €17.9bn orders

Earnings Release Q3 FY 2026: Siemens Energy accelerates profitable growth – Siemens Gamesa delivers a positive quarterly result

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Earnings Release Q3 FY 2026: Siemens Energy accelerates profitable growth – Siemens Gamesa delivers a positive quarterly result

Siemens Energy further accelerated its profitable growth in the third quarter, achieving record levels of orders, revenue and profitability. Order intake once again benefited primarily from demand in the U.S. Also, Siemens Energy delivered its highest quarterly revenue to date, supported by progress in capacity expansion. Siemens Gamesa reported a positive result for the first time since fiscal year 2022 and is on track to reach break-even for 2026. Strong cash flow momentum also continued. Orders reached another record level of €17.9bn. Growth was driven by a new record order intake at Gas Services, as well as strong increases at Grid Technologies and Transformation of Industry. Book-to-bill ratio (ratio of orders to revenue) was 1.57, while order backlog increased to €162bn at quarter-end. Year-over-year, revenue rose 18.5% on a comparable basis (excluding currency translation and portfolio effects) to €11.4bn. Growth was rec-orded across all segments. Profit before Special items more than tripled to €1,623m, compared with €497 million in Q3 FY 2025. All segments delivered strong improve-ments, with Siemens Gamesa making the largest contribution. Special items amounted to negative €59m (Q3 FY 2025: positive €458m, primar-ily reflecting the demerger of the energy business from Siemens Limited, India). Siemens Energy’s Profit came in at €1,564m (Q3 FY 2025: €956m). Net income also increased sharply to €1,188m (Q3 FY 2025: €697m). Corresponding basic earnings per share were €1.28 (Q3 FY 2025: €0.71). Free cash flow pre tax increased to €2,319m (Q3 FY 2025: €419m). The sharp increase resulted largely from the improvement in cash-effective profit and was further supported by customer advance payments associated with the strong order intake. Siemens Energy confirms its fiscal year 2026 outlook, which was raised after the end of the first half-year, and expects its Profit margin before Special Items to be towards the upper end of the guided range.

Siemens Energy further accelerated its profitable growth in the third quarter, achieving record levels of orders, revenue and profitability. Order intake once again benefited primarily from demand in the U.S. Also, Siemens Energy delivered its highest quarterly revenue to date, supported by progress in capacity expansion. Siemens Gamesa reported a positive result for the first time since fiscal year 2022 and is on track to reach break-even for 2026. Strong cash flow momentum also continued.

Orders reached another record level of €17.9bn. Growth was driven by a new record order intake at Gas Services, as well as strong increases at Grid Technologies and Transformation of Industry. Book-to-bill ratio (ratio of orders to revenue) was 1.57, while order backlog increased to €162bn at quarter-end.

Year-over-year, revenue rose 18.5% on a comparable basis (excluding currency translation and portfolio effects) to €11.4bn. Growth was rec-orded across all segments.

Profit before Special items more than tripled to €1,623m, compared with €497 million in Q3 FY 2025. All segments delivered strong improve-ments, with Siemens Gamesa making the largest contribution. Special items amounted to negative €59m (Q3 FY 2025: positive €458m, primar-ily reflecting the demerger of the energy business from Siemens Limited, India). Siemens Energy’s Profit came in at €1,564m (Q3 FY 2025: €956m).

Net income also increased sharply to €1,188m (Q3 FY 2025: €697m). Corresponding basic earnings per share were €1.28 (Q3 FY 2025: €0.71).

Free cash flow pre tax increased to €2,319m (Q3 FY 2025: €419m). The sharp increase resulted largely from the improvement in cash-effective profit and was further supported by customer advance payments associated with the strong order intake.

Siemens Energy confirms its fiscal year 2026 outlook, which was raised after the end of the first half-year, and expects its Profit margin before Special Items to be towards the upper end of the guided range.

“Global demand for electricity – and consequently for our products – remained strong in the third quarter. We delivered record orders, revenue, and profitability, while continuing to improve efficiency. The fact that our wind business has returned to profitability in a quarter for the first time since 2022 is a fantastic achievement by this team”, says Christian Bruch, President and CEO of Siemens Energy AG.

Please read the complete Earnings Release:

Siemens Energy 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% and a Profit margin before Special items between 10% and 12%. Siemens Energy expects a Net income of around €4bn and a Free cash flow pre tax of around €8bn.

The outlook for Siemens Energy does not include charges related to any future legal and regulatory matters.

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%.

Grid Technologies plans to achieve a comparable revenue growth of 25% to 27% and a Profit margin before Special items between 18% and 20%.

Transformation of Industry expects a comparable revenue growth of 5% to 7% and a Profit margin before Special items of 11% to 13%.

Siemens Gamesa assumes a comparable revenue growth of 3% to 5% and a Profit margin before Special items at break-even.

The press conference call on Siemens Energy’s financial results of the third quarter of fiscal year 2026 will be broadcasted live for journalists at https:

pressconference starting at 8:30 a.m. CEST today.

You can also follow the conference call for analysts and investors live at www.siemens-energy.com

analystcall starting at 10:00 a.m. CEST today.

Recordings of both conference calls will be made available afterwards.

The financial publications can be downloaded at: www.siemens-energy.com

This document contains statements related to our future business and financial performance, and future events or developments involving Siemens Energy that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “antici-pate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. We may also make forward-looking statements in other reports, prospectuses, in presentations, in material delivered to shareholders, and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens Energy´s management, of which many are beyond Siemens Energy´s control. These are subject to a number of risks, uncertainties, and other factors, including, but not limited to, those described in disclosures, in particular in the chapter “Report on expected developments and associated material opportunities and risks” in the Annual Report and the Half-year Financial Report, which should be read in conjunction with the Annual Report. Should one or more of these risks or uncertainties materialize, should acts of force majeure, such as pandemics, occur, or should underlying expectations including future events occur at a later date or not at all, or should assumptions not be met, Siemens Energy´s actual results, perfor-mance, or achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens Energy neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of develop-ments which differ from those anticipated. This document includes supplemental financial measures – that are not clearly defined in the applicable financial reporting framework – and that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens Energy´s net assets and financial position or results of operations as presented in accordance with the applicable financial reporting framework in its consolidated financial statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power and heat generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers.

Its wind power subsidiary Siemens Gamesa makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide