Siemens Energy Reports Record €164 Billion Order Backlog and Raises 2027 Outlook
MUNICH, Germany, November 12, 2026, ZEX PR WIRE, Siemens Energy reported a record order backlog of €164 billion at the end of fiscal 2026, supported by continued demand for gas power generation equipment, electricity grid technology and energy infrastructure. The company also reported a strong fourth quarter, with revenue reaching a quarterly record of €12.8 billion.
Orders increased 5.2% year on year on a comparable basis to €14.8 billion during the quarter. Profit before special items rose to €1.54 billion, compared with €471 million in the same period of the previous year. Net income reached €1.36 billion, up from €236 million.
The results underline the scale of investment taking place across energy infrastructure as electricity demand rises and utilities expand generation and transmission capacity.
Gas and grid businesses support growth
Siemens Energy said Gas Services and Grid Technologies achieved record quarterly revenue levels. Comparable revenue for the group increased 21.5% to €12.8 billion, reflecting strong demand across its major business areas.
The company’s order backlog reached €164 billion, with the book to bill ratio remaining above one. This indicates that new orders exceeded revenue during the period, adding to the company’s pipeline of projects awaiting execution.
The performance of Grid Technologies is particularly relevant as electricity networks require upgrades to accommodate renewable energy, new generation capacity and rising demand from data centres. Gas Services also remains important for power systems that require flexible generation capacity.
Fiscal 2027 guidance points to continued expansion
For fiscal 2027, Siemens Energy expects comparable revenue growth of between 14% and 16%. It forecast a profit margin before special items of 14% to 16%, compared with 12.4% in fiscal 2026.
The company also expects net income of around €5 billion and pre tax free cash flow of approximately €10 billion. These projections represent management’s expectations and will depend on project execution, customer demand, supply chain conditions and operating costs.
Siemens Energy said its wind business achieved break even during fiscal 2026, marking another development in its broader operational transformation.
Infrastructure demand remains a major driver
The company’s results come as electricity demand increases across several industries, including manufacturing, transportation and digital infrastructure. Data centres and AI computing facilities are also contributing to demand for reliable power supplies and grid connections.
However, the scale of the order backlog also creates execution requirements. Siemens Energy will need to manage manufacturing capacity, project schedules and supply chain constraints to convert its pipeline into revenue and cash flow.
For investors, the latest results provide a detailed view of the investment cycle supporting energy infrastructure companies. The company’s fiscal 2027 guidance and record order backlog will remain central to assessments of its growth prospects.
