Siemens Energy proposes a €2.30 dividend after a record year
Nov 11, 2026
Siemens Energy AG (XETRA: ENR) reported its results for fiscal 2026, which ended on September 30, 2026, on Wednesday, November 11, 2026.
Fiscal 2026 results
According to the company's earnings release:
- orders were €68.1 billion, up 18.8% on a comparable basis, with a book-to-bill ratio of 1.54
- revenue was €44.2 billion, up 15.5% on a comparable basis
- profit before special items was €5,486 million, compared with €2,355 million in fiscal 2025, a margin of 12.4%
- net income was €4,129 million, compared with €1,685 million
- basic earnings per share were €4.44
- free cash flow before tax was €8,799 million
- the order backlog reached a record €164 billion
Dividend and share buybacks
The company proposed a dividend of €2.30 per share, compared with €0.70 for fiscal 2025. Siemens Energy said it repurchased €3.1 billion of its own shares in fiscal 2026 and plans buybacks of up to €9 billion more through fiscal 2030.
Outlook for fiscal 2027
For fiscal 2027, Siemens Energy expects:
- comparable revenue growth of 14% to 16%
- a profit margin before special items of 14% to 16%
- net income of about €5 billion
- free cash flow before tax of about €10 billion
The company also set targets for 2030, including comparable revenue growth of 12% to 14% a year and a profit margin before special items of 20% to 22%. These are company targets and may not be achieved.
Christian Bruch, president and chief executive officer, said the team "delivered on all raised guidance targets". The company said its wind business, Siemens Gamesa, reached break-even.
Fourth quarter
In the fourth quarter of fiscal 2026 (July to September), orders were €14.8 billion and revenue reached a record €12.8 billion, up 21.5% on a comparable basis. Profit before special items was €1,540 million, compared with €471 million a year earlier, and net income was €1,360 million.
What "profit before special items" means
Profit before special items excludes items that the company considers unusual, such as certain impairments, restructuring costs or gains from asset sales. Siemens Energy uses this measure to show the performance of its ongoing business. It is not a standardised accounting measure, so it can differ from net income and from similar measures used by other companies.
What Siemens Energy does
Siemens Energy makes equipment and provides services for producing and transmitting electricity. Its four segments are:
- Gas Services, which supplies gas turbines and related services for power plants
- Grid Technologies, which supplies transformers, switchgear and other equipment for electricity networks
- Transformation of Industry, which provides products for industrial customers, such as compressors and electrolysers
- Siemens Gamesa, which makes onshore and offshore wind turbines
What an order backlog is
An order backlog is the total value of orders a company has received but not yet delivered. For companies that build large equipment, such as turbines and transformers, a backlog can cover several years of work. A growing backlog shows strong demand, but it does not guarantee future profits, because costs and delivery schedules can change.
Electricity demand and power equipment
Demand for electricity equipment depends on investment in new power plants, the expansion of power grids and the build-out of renewable energy. Data centres, electrification of industry and transport, and the replacement of older equipment all add to the need for new generation and grid capacity.
What to watch
Key items include the approval of the dividend at the annual general meeting, progress on share buybacks, results of Siemens Gamesa and the first quarter of fiscal 2027.
Risks and uncertainties
Large equipment projects can face delays and cost overruns. Demand can change with energy policy, interest rates and economic conditions. Outlooks and targets may not be achieved, and energy shares can be volatile.
What this means for investors
For Investing.one users following Siemens Energy, the fiscal 2026 results and outlook may be relevant. The information above is based on the company's earnings release.
Sources
This is not investment advice. Your capital is at risk. Past performance does not guarantee future returns.
www.investing.one is solely and exclusively operated by Tradeplace Limited (Registration number HE 434666). Tradeplace Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (License number 455/25).
The information on this website is general in nature. Please consider the information in light of your objectives, financial situation and needs.
When investing, your capital is at risk and you may get back less than invested. Past performance doesn't guarantee future results.
We do not establish accounts to residents outside of the EU/EEA area. For further details please see the Client Agreement - Terms and Conditions. For privacy and data protection related complaints and information on handling personal data please refer to our Privacy Policy.
