FRANKFURT (Reuters) -Siemens Energy reported a record 131 billion euro ($135.5 billion) order book on Wednesday, boosted by strong demand for its energy equipment, ranging from gas and wind turbines to power converter stations and electrolysers.
The company also posted net profit of 252 million euros for the first quarter of its financial year, beating expectations of 130 million euros in an LSEG poll of analysts, the company said.
Siemens Energy’s order book has grown by more than a third over the past years, driven by global efforts to decarbonise power production as well as a surge in electricity demand to supply data centres needed to power artificial intelligence.
“Our strong first quarter reflects the market opportunities arising from the increasing demand for electricity,” CEO Christian Bruch said.
Siemens Energy, shares in which rose the most among all German blue-chips in 2024, last month published better than expected preliminary results for the period.
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.
($1 = 0.9666 euros)
(Reporting by Christoph SteitzEditing by David Goodman and Rachel More)
