Siemens Energy on Tuesday said booming electricity demand from AI data centres helped drive record order intake in its second quarter, as the German energy technology group confirmed its raised outlook and reported higher profits.
The company said orders rose to €17.7 billion ($20.8 billion) in the quarter ended March from €14.4 billion a year earlier, while revenue increased to €10.3 billion from €10 billion. Net profit climbed by around two-thirds to €835 million.
"Our strong market momentum continues despite geopolitical uncertainty," chief executive Christian Bruch said in a statement. "Our raised outlook reflects our confidence that these developments will continue, as well as in our resilience and project execution."
Siemens Energy had already released preliminary figures in April and raised its outlook. It now expects to generate around €4 billion in profit by the end of its financial year on September 30.
The group said its struggling wind turbine unit Siemens Gamesa continued its recovery, reporting a quarterly loss of €39 million compared with a loss of more than half a billion euros a year earlier. The unit is expected to return to profit in one of the coming quarters.
Gas Services and Grid Technologies were again the group's biggest profit drivers, each contributing more than half a billion euros in earnings.
Siemens Energy also said it would accelerate its ongoing share buyback programme.
