Siemens Results Lift Outlook on Electrification

Siemens AG reported third-quarter revenue of €20.794 billion, an increase of 7% year on year and 8% on a comparable basis. Orders climbed to €27.902 billion, up 13% year on year and 14% on a comparable basis. The performance was led by the Smart Infrastructure and Digital Industries businesses, which continued to drive both revenue and order growth.

The double-digit order increase compared with mid-single-digit revenue growth highlights ongoing demand momentum for Siemens AG’s offerings. The company’s portfolio in areas such as building technologies, power distribution and industrial automation contributed to the higher order intake, underpinning its near-term revenue pipeline.

Siemens Energy reported fiscal third-quarter revenue of €11.45 billion and adjusted operating profit, defined as profit before special items, of €1.62 billion. Order intake reached about €17.9 billion, contributing to a backlog near €162 billion. This combination of strong revenue, profit and orders marked a record quarter for the company.

The company reaffirmed its fiscal 2026 guidance for comparable revenue growth of 14%–16% and a profit margin before special items of 10%–12%. Based on the latest record orders and broad electrification demand, Siemens Energy now expects to land toward the upper end of its 10%–12% margin range. Management emphasized that the order strength supports this more confident margin stance.

Siemens Energy highlighted AI data-center expansion and Middle East power projects as important drivers of its fiscal third-quarter order intake. These projects are supporting demand for gas turbines and related power infrastructure. The company noted that demand for gas turbines is expected to remain strong into next year.

Executives described data-center demand as one part of a broader global electrification trend that also includes multiple other types of power and grid projects. While AI-related facilities are a visible source of growth, the company underscored that they sit within a wider investment cycle in energy systems and grid upgrades worldwide.

Across Siemens AG and Siemens Energy, the latest results indicate that software, digital industries and power infrastructure are central growth pillars. At Siemens AG, digital offerings and Smart Infrastructure helped lift revenue and drive a double-digit increase in orders. At Siemens Energy, the surge in orders tied to data centers and electrification is reinforcing confidence in its multi-year margin targets.

The combination of strong order books, record backlog and reaffirmed or strengthened guidance suggests continued support for revenue and profitability across the Siemens group. Demand related to AI data centers, industrial digitalization and global electrification is playing a material role in shaping the companies’ outlooks for the coming periods.