Siemens Gamesa significantly reduces its deficit

Siemens Gamesa has had tough and bloody financial statements, and the first quarter of the company's uneven financial year is no exception. However, there are significant improvements for the German wind turbine manufacturer. The company significantly reduced its deficit in the first quarter of the 2026 financial year and improved earnings significantly.

The result before special items improved to minus 46 million euros from minus 374 million euros in the same quarter the previous year. The profit margin before special items was raised from minus 15.5 percent to minus 2.0 percent. The total result ended at minus 221 million euros against minus 423 million euros the previous year. Special items were negative by 175 million euros and related to the divestment of the Indian wind business. The result was realized based on revenue of 2.355 billion euros, which is a decrease of 3.9 percent from 2.418 billion euros. euros the year before.

"The result before special items showed a significant improvement. The positive development was primarily due to productivity improvements, progress in the service business and was also supported by timing effects that will be offset during the year," it says, among other things, about Siemens Gamesa's result in the accounts from Siemens Energy, the parent company of the wind turbine manufacturer.

Order intake fell to 1.556 billion euros from 2.435 billion euros. The decline should be seen in particular in light of the fact that in the same quarter the year before, an offshore order of 1.4 billion euros was recognized. The order backlog amounted to 34 billion euros at the end of the quarter.

For the entire 2026 financial year, Siemens Gamesa expects revenue growth of 1-3 percent. and a profit margin before special items around break-even.

The Group more than doubles its profit

Siemens Energy as a whole delivered a significantly stronger first quarter than the previous year and more than doubled its result.

The result before special items increased to 1.159 billion euros from 481 million euros the previous year. The total result was 1.007 billion euros against 463 million euros, while the net result landed at 746 million euros against 252 million euros the previous year.

Revenue increased to 9.675 billion euros from 8.942 billion euros the previous year, corresponding to comparable growth of 12.8 percent. Order intake reached 17.609 billion euros, and the order backlog grew to 146 billion euros. euros.

Gas Services delivered a record order intake of 8.751 billion euros and increased revenue to 3.097 billion euros. Profit before special items increased to 515 million euros and the margin improved to 16.6 percent. Grid Technologies increased revenue to 3.054 billion euros and lifted profit before special items to 538 million euros. The margin increased to 17.6 percent, driven by high activity and improved efficiency. Transformation of Industry had revenue of 1.303 billion euros. Profit before special items amounted to 154 million euros, corresponding to a margin of 11.8 percent, which was on par with the previous year.

- We have had a very strong start to the financial year. The continued high demand for our gas turbines and grid technologies contributes significantly to the overall performance. We are also seeing early signs of a modest improvement in the wind business, says Christian Bruch, CEO of Siemens Energy, in a comment on the financial statements.

Siemens Energy maintains its expectations for the financial year and expects comparable revenue growth of 11-13 percent and a profit margin before special items of 9-11 percent.