Siemens Energy reports strong Q1 FY2026 results

Sustained high demand in gas turbines and grid technologies drives record orders and significant revenue growth

Mar. 2, 2026 at 3:47pm

Got story updates? Submit your updates here. ›

Siemens Energy has reported a very strong start to fiscal year 2026, with record orders, significant revenue growth, and sharply improved earnings. Favorable energy market trends and robust demand across regions and technologies, including strong data center expansion, contributed to the positive performance. The company's orders reached a new record, revenue rose 12.8%, and both earnings and cash flow improved sharply, with earnings more than doubling compared to the prior year.

Why it matters

Siemens Energy's strong Q1 results demonstrate the company's ability to capitalize on favorable market conditions and growing demand for its gas turbines, grid technologies, and other offerings. The performance highlights the company's operational and financial strength, which will be crucial as it continues to invest in expanding its manufacturing capabilities in the United States and Europe to support the accelerated grid expansion and integration of renewable energy.

The details

Siemens Energy's orders amounted to €17.6 billion, a 33.9% increase on a comparable basis, driven by record order intake at Gas Services. Both Grid Technologies and Transformation of Industry achieved double-digit growth rates. Revenue increased by 12.8% to €9.7 billion, with all segments reporting growth. Profit before Special items sharply improved year-over-year to €1,159 million, primarily due to the profit improvement at Siemens Gamesa and Grid Technologies. Special items amounted to negative €152 million, mainly related to the closing of the disposal of the Indian wind business. Siemens Energy's Profit came in at €1,007 million, and Net income rose sharply to €746 million. Free cash flow pre tax came in at €2,869 million, driven by strong profit development and benefiting from customer advance payments as well as favorable timing effects.

  • Siemens Energy reported its Q1 FY2026 results on February 11, 2026.
  • The company's Annual General Meeting was held on February 26, 2026 in Berlin.

The players

Siemens Energy AG

An energy technology company that provides a wide range of products, solutions, and services for the generation, transmission, and distribution of power, including gas turbines, grid technologies, and renewable energy solutions.

Christian Bruch

President and CEO of Siemens Energy AG.

Tobias Hang

Head of Investor Relations at Siemens Energy AG.

Joe Kaeser

Supervisory Board Chairman of Siemens Energy AG.

KPMG

The independent auditor appointed for Siemens Energy's financial statements and sustainability reporting for fiscal year 2026.

Got photos? Submit your photos here. ›

What they’re saying

“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.”

— Christian Bruch, President and CEO of Siemens Energy AG

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, Grocery employee

What’s next

Siemens Energy confirms its outlook for fiscal year 2026 and plans to hold its next Annual General Meeting in February 2027.

The takeaway

Siemens Energy's strong start to fiscal year 2026, marked by record orders, significant revenue growth, and sharply improved earnings, underscores the company's ability to capitalize on favorable market conditions and growing demand for its energy technology solutions. The performance supports the company's ongoing investments to expand its manufacturing capabilities in the United States and Europe, which will be crucial in supporting the accelerated grid expansion and integration of renewable energy required to meet global decarbonization goals.