MUNICH, Germany – Siemens Energy today announced its results for the first quarter of fiscal year 2026 that ended December 31, 2025.
Siemens Energy continued its strong performance from the previous fiscal year in the first quarter of 2026. Thanks to the continuing favorable market environment, driven in part by the rapid expansion of data centers, orders reached a new record level. Revenue and cash flow improved significantly, and earnings more than doubled compared to the previous year.
Christian Bruch, CEO of Siemens Energy:
We have made a very strong start to the financial year. Sustained high demand in our gas turbines and grid technologies businesses is making a significant contribution to overall performance. Also in the wind business, there are early signs of a modest improvement.
Key highlights from the business areas (segments)
Gas Services: Gas Services delivered its strongest quarter ever in terms of order intake, booking 102 gas turbines. 12 gigawatts were converted from existing reservation agreements, and at the same time, 12 gigawatts of new reservations. Q1 orders were 40% from the US, 35% from Europe, and 15% from the Middle East and China. The Business Area saw a sharp increase in Profit before Special items, thanks to improved margin quality in the new unit business (Profit margin before Special items: 16.6%).
Grid Technologies: Strong increase in orders here as well, compared with Q1 in 2025 (21,8%). Growth was driven by robust demand across both products and solutions. The US contributed with several data-center-related orders amounting to a high triple-digit-million-euro volume. Globally, customers are accelerating investments in transmission capacity to integrate rising power capacities and strengthen grid stability. Strong business growth led to an equally strong increase in profit (profit margin before Special items: 17.6%).
Transformation of Industry: Strong improvement in order intake, driven in particular by compressors and electrification. Large new unit orders in the Middle East.
Siemens Gamesa: Compared with the very strong prior-year quarter, orders were lower at €1.5 billion (–33.7%). This is due to an exceptionally large offshore order in the North Sea from the previous year, which alone accounted for over €1.4 billion. On the other hand, the significant improvement in operating profit, which reached –€46 million, is encouraging. Due to one-time negative special effects in connection with the completion of the sale of our Indian wind business (€175 million), the profit came in at –€221 million.