Siemens Energy: quarterly results in line, share price advances

(CercleFinance.com) - Siemens Energy shares rose in Frankfurt on Wednesday morning, following the release of quarterly results in line with expectations.


This morning the German group said that it had made a solid start to the financial year, thanks to current buoyant market trends.

Its profit before exceptional items more than doubled y-o-y to E481m in the three months to end-December.

The company states that its performance was further penalised by the difficulties encountered by its wind turbine subsidiary Siemens Gamesa, but to a lesser extent than a year ago.

Sales totaled E8.9bn, representing growth of 18.4% excluding currency and scope effects, with increased activity in all businesses.

In a reaction note, analysts at Oddo BHF refer to accounts in line with the preliminary results unveiled on 23 January.

For its current full fiscal year 2024/2025, Siemens Energy says it is targeting LFL sales growth of 8% to 10%, along with a 3% to 5% rise in earnings before extraordinary items.

According to analysts at Oddo, these targets could be raised when the company publishes its interim results, scheduled for May.

Shortly before 10am, Siemens Energy's share price climbed 0.5% after starting trading down slightly.

Supported by the development of AI, which requires large amounts of energy, the share has soared by 136% over the past six months.


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