Revenue rose 15.5% on a comparable basis to €44.2 billion ($49.3 billion). Capacity expansions at existing Gas Services and Grid Technologies sites helped lift output, and both businesses posted their highest quarterly revenue to date. Orders increased 18.8%; Gas Services led with a 45.9% jump, while Grid Technologies orders grew 14.5%. In the United States, group orders climbed 70.8%.

The book-to-bill ratio reached 1.54, lifting Siemens Energy’s global order backlog to a record €164 billion ($183 billion). JP Morgan said earlier this year that global orders for gas turbines had reached a record high as demand for power generation rose.

Siemens Energy’s profit margin more than doubled from a year earlier to 12.4%. The company said it aims to reach a margin of 20% to 22% by 2030 and increase revenue by 12% to 14% annually before the end of the decade.

Its wind turbine business, Siemens Gamesa, returned to just above break-even for the fiscal year ended September 30, after years of losses and restructuring. It reported profit before special items of €8 million ($9 million), compared with a €1.4 billion ($1.56 billion) loss in fiscal 2025. Siemens Energy said Siemens Gamesa was the largest contributor to the group’s doubled profit margin in fiscal 2026.