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Siemens Energy Wind Profits First Since 2022
German energy company Siemens Energy achieved strong profits in its third fiscal quarter, with net profit after taxes reaching 1.2 billion euros, representing an increase of nearly 70% compared to the same period last year. The significant improvement was driven by heightened demand for electricity, especially from data centers, and the wind energy sector exiting its loss-making phase. Despite a significant decline in new orders at Siemens Gamesa, the company remains on track to meet its annual target of approximately 4 billion euros, with an order backlog totaling 31 billion euros.
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