(Il Sole 24 Ore Radiocor) – Siemens Energy debuted on the Frankfurt Stock Exchange, after revising its medium-term forecast upwards, as growth achieved in the last financial year allowed dividends to return for the first time in four years. Shares of the energy company rose more than ten points, the biggest gain on the DAX 40 index and one of the best on the Stoxx Europe 600. Since the beginning of the year the price has gone up 120% and as highlighted in the accounting documentation, during the 2025 financial year (ending September), the increase was 201%.
Siemens announced that in the fourth quarter its turnover exceeded the 10 billion mark, with an increase of 9.7% compared to 10.4 billion euros. This group also has one generated profits of 236 million compared to a loss of 254 million in the same period last year. Pre-tax free cash flow increased to 1.3 billion (+42%). However, orders decreased by 2.5% on a like-for-like basis to 14.2 billion “mainly due to a high comparable base at Siemens Gamesa”, the Spanish wind power subsidiary. The year ended with revenue growing by 15% to 39.1 billion and net profit of 1.68 billion (from 1.33 billion). The proposed dividend is 0.70 euros per sharewith a total amount of 50% of the net profit in question.
“2025 is a successful year for us,” said CEO Christian Bruch, underlining that Siemens Energy has achieved this achieve “sustainable growth and significantly increased its profitability, increasing the value of the company and returning to paying dividends for the first time in four years”. Furthermore, “taking into account the positive outlook for the energy market, we raised our medium-term targets”, added the CEO. As the operators pointed out, the group taking advantage of increasing global energy demand electricity thanks to its large presence in both conventional energy generation with gas turbines and renewable energy with wind turbines.
Against this background, Siemens Energy now forecasts in 2026 turnover growth on a like-for-like basis of between 11% and 13% and operating margin before exceptional items of between 9% and 11%. Net profit should be between three and four billion euros and Siemens Gamesa (which has been at the origin of huge losses for years) should break even. For the 2025-2028 period, the group is now targeting average annual revenue growth on a comparative basis of around 13-15% (low teens) whereas previously it forecast growth in the high single digits to low double digits. Operating margin before extraordinary items in fiscal 2028 is now expected to be in the range of 14% to 16%, compared to the previous estimate of 10% to 12%. “The new medium-term goals are clearly positive and shows the strength of this cycle,” said JPMorgan analysts.
