Siemens Energy sells most of its Industrial Division
Siemens Energy announced on Tuesday that it plans to sell the majority of its division that supplies industrial customers. The move is intended to focus the power equipment supplier's attention more on the growing utility sector. Siemens Energy's Transformation of Industry business unit (ToI), which makes steam turbines, electrolysers, and other products, accounted for EUR5.7 billion ($6.7billion) or 15% of group sales in the last year, with an 11% profit margin.
Siemens raises guidance after posting highest-ever industrial profit
Siemens reported its highest ever quarterly 'industrial' profit and new orders Thursday, beating analysts forecasts and leading the German industrial group raise its full-year profitability guidance. The company's products range from trains to factory software, and building control systems. It saw improvement?across the majority of its industrial businesses. Siemens' industrial profit grew by 25% in the quarter ended June 30 to EUR3.52 billion (USD4.09 billion), its highest ever quarterly figure.
Siemens raises guidance after posting highest ever industrial profit
Siemens announced its highest-ever quarterly industrial profit and new orders on Thursday. The German industrial group beat analyst forecasts, causing it to increase its profit guidance for the full year. The company's products range from trains to factory software, and building control systems. It saw improvements in all industrial businesses, led by a "sharp" improvement at its Digital Industries Factory Automation?unit. Siemens' industrial profit grew 25% in the three months ending June 30 to EUR3.52 Billion ($4.09 Billion)…
European shares close at a new record as earnings offset Mideast uncertainties
The European stock market closed at an all-time record high on Wednesday, as investors scrutinized the latest corporate earnings and watched the rapid developments in the Middle East conflict. After closing at a record high in the previous session, the pan-European STOXX 600 closed 0.04% higher at 657.14. European shares reached record highs three out of four sessions in a row as positive corporate earnings overshadowed concerns about the Middle East conflict.
European shares are nearing record highs, as earnings offset Mideast uncertainties
European shares were muted Wednesday as investors assessed a new batch of 'corporate' earnings while keeping a close eye on the fast-moving Middle East developments. By 857 GMT the pan-European STOXX 600 Index was up 0.07% to 657.27, briefly reaching an intraday high after having closed at an all-time high in the previous session. The major benchmarks in regional comparisons have also remained relatively unchanged. The markets were…
Siemens Energy exceeds Q3 predictions on AI data centres boom and Middle East demand
Siemens Energy said that its sales, margins, and 'orders' hit records in the third quarter. This was boosted by the expansion of AI data centers in the United States, and the power plants in Middle East, which have increased demand for gas turbines. Siemens Energy reported that its struggling Siemens Gamesa Division, which has been a "millstone" around the neck of the German Group for years, had made its first quarter operating profit in nearly four year, citing cost reductions and a higher capacity utilization.
Manager Magazin reports that Siemens Energy is considering the spin-off unit 'Transformation Industry'.
Manager Magazin reported Thursday that Siemens Energy may spin off its "Transformation Of Industry" division which produces compressors and'steam turbines. A document from the group's internal strategists was revealed to the magazine. It showed that the split would result in higher margins over the long-term and more value for the shareholders. Siemens Energy said it regularly reviews its portfolio in order to make sure that every business is given the best financial and strategic conditions to grow…
50Hertz Awards Siemens Energy and NSORe Offshore Converter Contract
The German power grid operator 50Hertz has commissioned a consortium consisting of Siemens Energy and Neptun Smulders Offshore Renewables to build an offshore converter system that will connect North Sea wind farms with Germany's electrical grid. This project is the first to see offshore converter platforms, built to a new standard of?two gigawatts?, being manufactured in Germany. Key components will be made in Rostock-Warnemuende. This?contract sends a powerful and encouraging message to Germany.
Siemens Gamesa CEO warns that capacity cuts will be made if Europe’s offshore expansion fails
Siemens Energy warned on Thursday of potential wind turbine capacity cuts in Europe, if governments fall behind in efforts to expand off-shore power. The company said a lack a determination could be an "existential danger" to the industry. Comments by one of Europe's largest industrial firms show growing concern about the future of Europe's manufacturing capability, which has been under pressure due to high energy costs and Asian competitors. Europe's offshore expansion is being hampered due to regulatory challenges.
Siemens Energy: The Iran war is driving demand for gas turbines and AI to further increase.
Siemens Energy executives stated on Thursday that the Iran war has 'become an additional driver for?demand of gas turbines. Siemens Energy, along with its rivals GE Vernova, Mitsubishi Heavy Industries and others, has seen the demand for gas turbines increase as hyperscalers spend more than $700 billion on energy-hungry artificial intelligent, driving demand for new energy capacities. Board members at a company meeting told reporters…
Investors in renewable energy mobilize to bid on Brazil's battery auction but warn against risks
The government announced on Wednesday that major international investors in renewable energy are lined up to bid for the first battery auction. This will give the storage units the resources they need to buy power from Brazil's struggling renewable generators. In recent years, solar and wind energy projects have suffered losses of hundreds of millions of dollar because the excess power was not used. After two years of promises and much preparation by companies…
The German Economy Minister's China visit will include CEOs from BASF and Thyssenkrupp
The firms have confirmed that top executives from BASF, Thyssenkrupp, and Siemens Energy are going to join German Economy Minister Katherina Riehe on her first visit to China next week. This comes at a time when protectionism is increasing and the global trade landscape has changed. Germany, as the third largest economy in the world, is particularly vulnerable, as it has seen its trade partners, China and the United States, become more risky due to the rising competition.
MORNING BID EUROPE - Locked in a deadlock with Iran, Trump heads for China
Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Donald Trump is on his way to Beijing, to see if Chinese president Xi Jinping demonstrates more receptiveness to a 'deal. President Obama is expected to arrive in China today. He will be accompanied by several chief executives, including Jensen Huang of Nvidia, who was added at the last minute to the list. Beijing appears to be more focused on Taiwan ahead of the talks.
Nordex, a German wind turbine manufacturer, reports a strong quarter-end profit thanks to European demand
Nordex, an onshore wind turbine manufacturer, reported Monday better-than expected core?earnings in the 'first quarter of 2026. It cited continued demand in its key markets. The German company reported earnings before interest taxes, depreciation, and amortization (EBITDA), of 131 millions euros ($154) compared to a consensus estimate of 112million euros provided by the company and an?79.6million euro result from a year ago. In Europe, 90% of the installed wind capacity was generated by onshore wind last year.
Arafura Australia says South Korea and Germany are exposed to a rare earths shortage.
The United States, Japan and Australia are locking down rare earths supply, leaving industrial giants Germany and South Korea vulnerable, according to the CEO of Australia’s Arafura Rare Earths. This company is currently negotiating final agreements for supply. The U.S. is leading a global push to diversify supply chains and secure new sources of supply after China, the world's largest producer of rare earths, placed export restrictions last year. This shook the automotive and defense industries.
European shares continue to decline as inflation fears fuelled by the Mideast conflict cause a second consecutive week of losses.
The European?shares continued to decline on Friday, marking their second consecutive week of losses. This was due to the escalating conflict in the Middle East and inflation concerns. The benchmark pan-European?STOXX?600 closed 0.5% down. All major regional exchanges posted marginal weekly losses. The index was dragged down by industrial stocks, which fell 1.8%. Siemens Energy dropped 5.7%, and Rolls-Royce dropped 5.3%. The biggest percentage drop was experienced by miners, who lost 3.3%.
Deka, an investor, says Siemens Energy shouldn't'squander" its wind division
Siemens Energy shouldn't sell its wind division for less than?value. A top-20 shareholder made the statement on Thursday, at the annual general meeting of the group, where the future if the struggling business is a major topic. After U.S. activist investor Ananym called for a review of Siemens Gamesa in December, and a spin-off to boost shareholder value, the future of Siemens Gamesa has become more apparent. Siemens Energy's leadership is open to the idea in principle, but wants to stabilise its business first.
The US AI boom is facing an electric shock
The race for artificial intelligence dominance by Big Tech may hit a snag soon as U.S. power grids struggle to keep up with hyperscalers who spend a lot of money. Microsoft, Amazon Alphabet, and Meta are among the technology giants in America that have announced in recent months plans to spend over $600 billion in AI by 2026. Investors are already unsure about the viability of this strategy due to the investment wave. The ambitious U.S.
As global pressure increases, German Chancellor Merz travels to China in search of opportunities
The German Chancellor Friedrich Merz is visiting China this week. He's the latest European leader to seek a reset of relations with Beijing following a year which exposed the fragility in their supply chains and the collapse of their alliance with the U.S. Merz is making his first trip to China as a?chancellor' and leads a delegation that includes some of Germany’s top business leaders. This includes the heads of carmakers Volkswagen BMW and Mercedes-Benz.
As global pressure increases, German Chancellor Merz travels to China in search of opportunities
The German Chancellor Friedrich Merz is visiting China this week. He is the latest European leader to seek a reset of relations with Beijing following a year which exposed the 'crumbling' of their alliance with?the United States. The collapse of their alliance with the United States was exposed in a year that revealed vulnerabilities within their supply chains. Merz is leading a delegation that includes some of Germany's top business leaders. This includes the heads of Volkswagen, BMW, and Mercedes-Benz.