Munich, August 5. Siemens Energy's profit before special items hit €1.62 billion in Q3, more than triple the €497 million from a year ago. Orders reached a record €17.9 billion, with demand flooding in from the United States and across every business segment.
The numbers tell a simple story. AI infrastructure is consuming power at unprecedented rates, and utilities are scrambling to keep up. Siemens Energy is cashing in on that desperation.
Siemens Gamesa, the wind division that hemorrhaged money for years, posted its first quarterly profit since fiscal 2022. That alone signals how much the energy market has shifted. Investors have already bid up the stock as a proxy for the AI power crunch.
Order intake jumped across the board. Gas Services hit its own record. Grid Technologies and Transformation of Industry both surged. The book-to-bill ratio reached 1.57, meaning the company took in far more work than it billed in the quarter. Backlog ballooned to €162 billion by end of June.
On an organic basis, comparable sales climbed 18.5% to €11.4 billion, the highest quarterly figure yet. Net income came in at €1,188 million versus €697 million in Q3 of 2025. Earnings per share rose to €1.28 from €0.71.
Free cash flow improved sharply to €2,319 million from €419 million a year earlier. The company confirmed its raised full-year outlook, guiding toward the top of its margin range with net income around €4 billion.
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