Siemens Energy Books Record Order Backlog, Driven by AI Data-Center Boom
By Adam Whittaker
Siemens Energy said increasing demand from data centers is driving earnings growth, and helped the German maker of energy equipment notch up its highest-ever order backlog.
Grid and power-generation equipment manufacturers are benefiting from the rise of artificial intelligence and need to power the data centers the technology relies upon.
Siemens Energy said Wednesday that momentum remains strong, with first-quarter orders up by more than 30% on the same period a year earlier to 17.61 billion euros ($20.95 billion). Siemens Energy said the U.S. was the largest contributor to order growth. Its order backlog stood at a record 146 billion euros.
Net profit nearly tripled to 746 million euros for the quarter ended Dec. 31 while profit before special items jumped to 1.16 billion euros from 481 million euros. Its profit margin before special items--a key profitability metric--came in at 12% compared with 5.4% previously.
Siemens Energy backed its full-year guidance for fiscal 2026. It sees adjusted revenue growth in the range of 11% to 13% and a profit margin before special items between 9% and 11%. Net profit is seen between 3 billion and 4 billion euros.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
February 11, 2026 01:44 ET (06:44 GMT)
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