Siemens outperforms with data centers and Middle East demand

Siemens Energy achieved record-breaking financial results in the third quarter, surpassing analyst expectations, thanks to increased demand for AI data center solutions in the United States, and rising orders for gas turbines and network equipment in the Middle East. Sales rose by 18.5% to €11.45 billion, and pre-exceptional profit more than tripled to reach €1.62 billion, with forecasts to achieve the company's highest target profit margin between 10% and 12% by 2026. Additionally, Siemens Gamesa’s wind power division reported its first quarterly operating profit in four years, driven by cost reductions and increased utilization, while regional demand for energy equipment in the Middle East contributed to supporting the results.

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