Siemens Energy Posts Record Year, Lifts 2030 Margin Goal

Siemens Energy closed its 2026 fiscal year with record revenue and an order backlog of €164 billion, and set higher profitability goals for 2030, the German energy technology group announced on Wednesday. It also proposed more than tripling its dividend and unveiled a new share buyback of up to €9 billion.

For the year to September 30, comparable revenue rose 15.5% to €44.2 billion, while orders climbed 18.8% on a comparable basis to €68.1 billion, giving a book-to-bill ratio of 1.54, according to the company’s results release.

Profit more than doubles

Profit before special items reached €5.49 billion, up from €2.36 billion a year earlier, lifting the margin to 12.4% from 6.0%. Net income rose to €4.13 billion from €1.69 billion, and basic earnings per share came in at €4.44, against €1.63. Pre-tax free cash flow nearly doubled to €8.8 billion.

In the fourth quarter alone, revenue hit a record €12.8 billion, up 21.5% on a comparable basis, and net income was €1.36 billion versus €236 million a year earlier.

Chief executive Christian Bruch said the company had met all of its raised guidance targets and reached break-even in its wind business.

Gas and grid lead, wind breaks even

Gas Services booked €32.8 billion in orders, up 45.9% on a comparable basis, with a segment margin of 16.4%. Grid Technologies grew comparable revenue 26.2% to €14.1 billion at an 18.9% margin.

Wind unit Siemens Gamesa posted a small profit before special items of €8 million for the year, compared with a loss of €1.36 billion in fiscal 2025, and was positive for a second straight quarter. Its annual orders fell 31.1% on a comparable basis, though fourth-quarter bookings jumped on an offshore order in the Baltic Sea worth about €1.7 billion, the company said.

Dividend and buyback

The board proposed a dividend of €2.30 per share, up from €0.70, which the company said equals about half of net income attributable to shareholders after adjusting for extraordinary non-cash effects. Siemens Energy repurchased €3.1 billion of shares during the year and plans a further buyback of up to €9 billion by the end of fiscal 2030.

Reuters, in a market report carried by MarketScreener, said upbeat forecasts from Siemens Energy and US-based CoreWeave helped lift European shares toward a record high on Wednesday.

What’s next

For fiscal 2027, Siemens Energy guided for comparable revenue growth of 14% to 16%, a profit margin before special items of 14% to 16%, net income of about €5 billion and pre-tax free cash flow of about €10 billion. The outlook excludes future legal and regulatory charges.

By 2030, the group is targeting annual comparable revenue growth of 12% to 14% and a margin of 20% to 22%. Chief financial officer Maria Ferraro said in the release: “now we are aiming even higher for 2027 and 2030.”

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