BERLIN (dpa-AFX) - Germany's Siemens Energy AG (SMEGF.PK) Wednesday reported a profit in its third quarter, compared to prior year's loss, with higher revenues. Orders were significantly higher than last year. Further, the company reaffirmed its earlier raised outlook for fiscal 2025, with a tendency towards the upper end of the guided ranges.
For fiscal 2025, Siemens Energy continues to expect net income of up to 1 billion euros, excluding assumed positive special items following the demerger of the energy business from Siemens Limited, India.
Annual profit margin before special items is still anticipated to be between 4 percent and 6 percent, and comparable revenue growth, excluding currency translation and portfolio effects, within a range of 13 percent to 15 percent.
The company added that it is now able to pay a dividend earlier than expected with the decision to lift the dividend ban following its early exit from the federal Bund Back Guarantee.
In the third quarter, Siemens Energy achieved a net income of 697 million euros, compared to prior year's net loss of 102 million euros. Basic earnings per share amounted to 0.71 euro, compared to loss of 0.16 euro a year ago.
Profit before Special items was 497 million euros, compared to 49 million euros last year. Special items in the latest quarter amounted to 458 million euros, primarily due to the demerger of the energy business from Siemens Limited, India. Profit margin before SI grew to 5.1 percent from 0.6 percent a year ago.
Revenue increased to 9.75 billion euros from 8.80 billion euros a year ago. The growth was 13.5 percent on a comparable basis.
At 16.61 billion euros, Siemens Energy's order intake grew from last year's 10.36 billion euros. On a comparable basis, orders exceeded prior year's figure by 64.6 percent. All segments contributed to this growth, especially Siemens Gamesa with two large offshore orders in the Baltic Sea.
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