By Christoph Steitz and Tom Käckenhoff
FRANKFURT/DUESSELDORF (Reuters) -Siemens Energy reported a record 131 billion euro ($135.5 billion) order book on Wednesday, as increased use of artificial intelligence and global efforts to decarbonise power production have led to a surge in demand for its energy equipment.
Orders for gas and wind turbines, power converter stations, electrolysers and other equipment leapt by more than a third over a roughly two-year period.
The company also posted net profit of 252 million euros for the first quarter of its financial year, which runs from October to September, beating expectations of 130 million euros in an LSEG poll of analysts, the company said.
Shares in Siemens Energy, which rose the most among all German blue-chips in 2024, were 1.6% higher in pre-market trade.
“Our strong first quarter reflects the market opportunities arising from the increasing demand for electricity,” CEO Christian Bruch said.
The order book covers around 93% of Siemens Energy’s projected 2025 sales, the group said in presentation slides. Sales are expected to grow by 8-10% from the 34.5 billion generated in 2024.
Orders in the U.S., where Siemens Energy makes a fifth of its sales, rose by 62% in the first quarter to 3.9 billion euros, the company said.
Siemens Energy last month published better than expected preliminary results for the period.
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(Reporting by Christoph Steitz and Tom KaeckenhoffEditing by David Goodman, Rachel More and Barbara Lewis)
