MUNICH, Germany, May 15, 2026 – Siemens Energy reported record second-quarter orders of €17.7 billion and a backlog of €154 billion, driven mainly by strong U.S. demand and higher order activity at Gas Services and Grid Technologies. The company also raised its fiscal 2026 outlook after stronger business performance across the quarter.
Second Quarter Financial Highlights
- Revenue increased 8.9% on a comparable basis to €10.3 billion, supported by growth across all Siemens Energy business segments.
- Profit before special items increased to €1.16 billion, mainly supported by improved performance at Siemens Gamesa.
- Cash and cash equivalents rose to €11.70 billion at quarter-end.
- Net income increased to €835 million, while basic earnings per share rose to €0.89 from €0.50 in the prior-year period.
- Grid Technologies booked a Baltic Sea HVDC order worth more than €1 billion, while U.S. transformer demand supported product business growth.
- Siemens Gamesa received first orders for the SG 7.0 wind turbine platform, the successor to the 5.X turbine.
“Our strong market momentum continues despite geopolitical uncertainty, leading to another exceptionally strong quarter and first half of the fiscal year. Our raised outlook reflects our confidence that these developments will continue, as well as in our resilience and project execution”, says Christian Bruch, president and CEO of Siemens Energy AG.
A detailed chart outlining the financial results is available here, providing a comprehensive breakdown of key metrics and performance indicators for better insight into the company’s financial standing.
Source: Siemens Energy
About Siemens Energy
Siemens Energy is a global energy technology company headquartered in Munich, Germany. The company became a separate entity from Siemens AG in 2020 and traces its energy-sector work to Siemens’ longer engineering history. It supplies gas and steam turbines, wind turbines, power transmission systems, grid technologies, and industrial decarbonization services. Siemens Energy serves utilities, independent power producers, transmission operators, and industrial customers in power generation, oil and gas, and renewable energy. Its work includes hydrogen production and storage, carbon capture, and energy efficiency technologies. Siemens Energy employs about 101,000 people worldwide in more than 90 countries.