Energy technology: Siemens Energy leaves the crisis behind

Siemens Energy has left the crises of recent years and is on course for a solid year. In the past quarter – for Energy it is the second of the financial year – the energy technology group made 501 million euros in profit after taxes. That is almost five times the value from the same period last year. The problem child Siemens Gamesa is still pressing the numbers, but in the areas of wind power it went so well that Energy recently raised its forecast significantly. And even the new US tariffs are only manageable.

For the second half of the financial year, which runs until the end of September, Energy is calculating only with a limited load up to a high double-digit million-euro amount. If you compare this with the values ​​that were recently called by German car manufacturers, for example, this is comparatively little. These negative effects are more than overlaid by the recently very strong development.

In the second quarter, it was also noticeable in sales and orders. The proceeds climbed by around a fifth to just under 10 billion euros, the order intake was not only significantly above at 14.4 billion euros, but also grew by more than half.

“The increasing demand for electricity has led to an extraordinarily strong quarter and first half of our business,” emphasizes CEO Christian Bruch. As a result, he recently increased the forecast – from a result of the profit threshold to up to 1 billion euros. “The improved outlook reflects our confidence in the ongoing market opportunities as well as our excellent project processing.”

In the past, problems for individual projects – especially at Gamesa – had torn down the numbers for the entire group. In the meantime, Energy is confident that they have got these problems under control.

Gamesa is still pressing

But the difficulties at Gamesa are not yet over. In the second quarter, too, the daughter ensured a thick minus in her area, which, however, could be more than balanced by strong figures in the business with turbines and their maintenance as well as with electricity network technology. At Gamesa, the problems with two important types of wind turbines are still pressing ashore – but the profit threshold is to be reached there next year. If the shops in the other areas still run as well as at the moment, Energy could then climb new heights in the result.

First, however, the group has to adhere to its current forecast. If it succeeds, that would not be the first annual profit since Siemens split off in autumn 2020 – there was already in the past financial year – but at that time it was still thanks to the profit from the sale of shares to Siemens India. This time it would be on your own.