Strong quarterly results positions Siemens Energy towards the upper end of  the full-year guidance range 

• With the highest quarterly order intake ever, Siemens Energy was able to continue the strong performance of the first half of the year also during the third quarter.

• At €16.6bn, Siemens Energy further improved on the record order intake of both last year and the previous quarters. On a comparable basis (excluding currency translation and portfolio effects), orders exceeded prior year's figure by 64.6%. All segments contributed to this growth, especially Siemens Gamesa with two large offshore orders in the Baltic Sea. Book-to-bill ratio was 1.70, driving the order backlog to a new record level of €136bn. However, the increase was held back by negative currency translation effects. 

• Revenue continued to grow at a double-digit percentage rate to €9.7bn, representing an increase of 13.5% on a comparable basis. 

• Siemens Energy's Profit before Special items was €497m (Q3 FY 2024: €49m) and the corresponding margin was 5.1%. This reflects a higher volume year-over-year and underlying operational improvements. Special items amounted to €458m (Q3 FY 2024: €69m) and were primarily due to the demerger of the energy business from Siemens Limited, India. Siemens Energy's Profit was €956m (Q3 FY 2024: €119m). 

• Siemens Energy achieved a Net income of €697m (Q3 FY 2024: Net loss €102m). The corresponding basic earnings per share amounted to €0.71 (Q3 FY 2024: negative €0.16). 

• Free cash flow pre tax amounted to €419m (Q3 FY 2024: €727m) and was in line with expectations. The decline year-over-year was mainly related to the development of operating net working capital at Siemens Gamesa and also attributable to expansion investments in line with order growth. 

• Siemens Energy reaffirms the raised outlook issued in the second quarter with a tendency towards the upper end of the guided ranges.

Christian Bruch, President and CEO of Siemens Energy AG:

“Our businesses delivered another strong quarter, continuing the solid performance of this fiscal year. This puts us on track to meet the upgraded guidance issued in the second quarter, and we are currently trending towards the upper end of the range. With the decision to lift the dividend ban following our early exit from the federal Bund Back Guarantee, we are now able to pay a dividend to our shareholders earlier than expected. These are important achievements, and our focus remains on profitable growth through continued excellence in project execution”

Siemens Energy reaffirms the raised outlook issued in the second quarter with a tendency towards the upper end of the guided ranges. For fiscal year 2025, the comparable revenue growth (excluding currency translation and portfolio effects) is expected in a range of 13% to 15% and the Profit margin before Special items between 4% and 6%. In addition, Siemens Energy expects a Net income of up to €1bn excluding positive Special items of around €0.5bn subsequent to the demerger of the energy business from Siemens Limited, India. The outlook for Free cash flow pre tax for the 2025 fiscal year is around €4bn.  

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 11% to 13% and a Profit margin before Special items of 11% to 13%. 

• Grid Technologies plans to achieve a comparable revenue growth of 24% to 26% and a Profit margin before Special items between 14% and 16%. 

• Transformation of Industry expects a comparable revenue growth of 13% to 15% and a Profit margin before Special items of 9% to 11%. 

• Siemens Gamesa assumes a comparable revenue growth of 0% to 2% and a negative Profit before Special items of around €1.3bn.

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,” “anticipate,” “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, performance, 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 developments 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.