Siemens Energy has presented preliminary figures for the second quarter of fiscal year 2025, significantly exceeding market participants’ expectations and leading to an upward revision of the outlook. Despite ongoing challenges at its wind subsidiary Siemens Gamesa, the company shows strong operational progress and robust business development overall.
Key Figures Q2 FY 2025
- Order intake increased by 52.3% to €14.433 billion (previous year: €9.470 billion).
- Revenue grew by 20.7% to nearly €10 billion.
- Adjusted earnings before special effects rose from €170 million in the previous year to an impressive €906 million.
- The profit margin before special effects stood at a strong 9.1% (previous year: 2.1%).
- Free cash flow before taxes was nearly tripled at around €1.39 billion compared to the same quarter last year.
Segment Development
- Gas Services reported an order increase of over 100%, with a profit of about €511 million and a margin of around 16%.
- Grid Technologies impressed with a revenue increase of over one-third and an operational margin of just under 20%.
- Transformation of Industry demonstrated stable results despite a slight decline in order intake.
Challenge Siemens Gamesa
The wind subsidiary remains problematic; although the operational loss was reduced (from -€446 million to -€249 million), it still shows a negative margin of minus 9.2% and stagnates in order intake.
Outlook for the Fiscal Year
Due to the strong quarterly figures, Siemens Energy significantly raises its forecast:
| Metric | Old Forecast | New Forecast |
|---|---|---|
| Revenue Growth | +8 to +10% | +13 to +15% |
| Adjusted Profit Margin | 3 to 5% | 4 to 6% |
| Net Profit | Around break-even | Up to €1 billion |
| Free Cash Flow pre tax | Not specified | Around €4 billion |
This optimistic assessment reflects the robust business performance despite the pressures from the Gamesa segment. Overall, Siemens Energy presents itself in the second quarter as a growth-oriented company with significantly improved profitability and liquidity – important signals for investors in view of a challenging market environment in parts of the group. The complete detailed figures will be published on May 8, 2025.