Nov 12, 2026#
German energy technology giant Siemens Energy has reported record financial results for fiscal 2026, with annual net income surging 145% as rising investment in power generation and electricity grids fueled growth across its core businesses.
The company reported net income of €4.13 billion for the fiscal year ended September 30, up from €1.69 billion a year earlier. Revenue reached €44.24 billion, representing comparable growth of 15.5%, while orders climbed 18.8% on a comparable basis to €68.1 billion.
Siemens Energy’s order backlog reached a record €164 billion, up from €138 billion a year earlier, providing substantial revenue visibility as global electricity demand continues to expand.
The company’s profit before special items more than doubled to €5.49 billion, with its corresponding margin improving to 12.4% from 6.0% in fiscal 2025.
Siemens Energy’s Gas Services and Grid Technologies divisions were the strongest contributors to its financial performance, benefiting from rising investment in electricity generation, transmission networks, and energy security.
Gas Services generated €14.5 billion in annual revenue, representing comparable growth of 20.3%. Its profit before special items increased to €2.39 billion from €1.58 billion a year earlier.
Grid Technologies recorded revenue of €14.1 billion, up 26.2% on a comparable basis, while profit before special items climbed to €2.66 billion.
The company expects demand for gas turbines and electricity infrastructure to remain strong as artificial intelligence data centers, industrial electrification, and aging power grids drive investment in new generation and transmission capacity.
North America remains a particularly important growth market. Siemens Energy’s U.S. orders increased 70.8% on a comparable basis to €27.7 billion during fiscal 2026, highlighting the scale of investment in American energy infrastructure.
Siemens Energy also reported progress in its efforts to turn around Siemens Gamesa, its wind turbine subsidiary.
The business achieved a small full-year profit before special items of €8 million, compared with a €1.36 billion loss in fiscal 2025. However, it continued to report a loss after special items, while annual order intake declined.
Siemens Gamesa also delivered its second consecutive quarter of positive profit before special items, supported by improving offshore wind project execution and cost efficiencies.
Fourth-quarter group results reflected the broader improvement, with Siemens Energy recording net income of €1.36 billion compared with €236 million in the corresponding period last year.
Siemens Energy raises long-term ambitions
Following its record performance, Siemens Energy announced new financial targets through fiscal 2030, aiming for compound annual comparable revenue growth of 12% to 14% and a profit margin before special items of 20% to 22%.
For fiscal 2027, the company forecasts comparable revenue growth of 14% to 16%, a profit margin before special items of 14% to 16%, and net income of approximately €5 billion.
Strong cash generation is also supporting increased shareholder returns. Siemens Energy proposed raising its annual dividend to €2.30 per share from €0.70 and announced plans for additional share repurchases of up to €9 billion through 2030, following €3.1 billion in buybacks during fiscal 2026.
Annual free cash flow before tax nearly doubled to €8.8 billion, with management forecasting approximately €10 billion for fiscal 2027.
The results underscore Siemens Energy’s growing exposure to the global expansion of electricity infrastructure, positioning its gas turbine and grid businesses to benefit from rising power demand and continued investment in energy security.
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