Siemens Energy raises its sights as power demand fills the order book
Record annual revenue and a proposed dividend increase accompany higher margin targets for 2027 and 2030.
Siemens Energy forecast higher profit margins and proposed more than tripling its dividend after a record fiscal year, as demand for gas turbines and grid equipment supported its results. The company said the build-out of data centers is one source of rising demand for electricity infrastructure.
Revenue for fiscal 2026 rose 15.5% on a comparable basis to EUR44.2 billion. Orders reached EUR68.1 billion and the year-end order backlog stood at EUR164 billion. Profit before special items more than doubled to EUR5.486 billion, with a margin of 12.4%.
For fiscal 2027, Siemens Energy expects comparable revenue growth of 14% to 16% and a profit margin before special items of 14% to 16%. Its 2030 margin target is 20% to 22%. These are company targets, not results already earned, and the margin measure excludes special items.
The proposed fiscal-2026 dividend is EUR2.30 per share, up from EUR0.70. Siemens Energy also plans up to an additional EUR9 billion of share repurchases through the end of fiscal 2030. The dividend remains a proposal rather than a payment already made.
The wind business, Siemens Gamesa, reached break-even on profit before special items for the full year. That improvement matters alongside the strength in gas and grids: the annual result reflects both demand for power equipment and a recovery in a business that had weighed on the group.
