Orders for Siemens Energy came in at €15.0 billion, growing by 42.3% on a comparable basis (excluding currency translation and portfolio effects), mainly driven by large orders at Grid Technologies and Gas Services.
Transformation of Industry reached its highest order intake in a quarter to date, and Siemens Gamesa booked orders close to the prior-year quarter’s level. The book-to-bill ratio (ratio of orders to revenue) was 1.54, leading to an order backlog of €123 billion at year-end, once more exceeding the previous high.
Revenue of €9.7 billion was up by 16.6% on a comparable basis, largely due to Grid Technologies and Siemens Gamesa, where the ongoing ramp-up drove strong revenue growth in the offshore business.
Siemens Energy’s profit before special items was negative €83 million (Q4 FY 2023: negative €487 million) due to the expected loss at Siemens Gamesa. All segments improved compared to the prior-year quarter. Special items decreased to negative €32 million (Q4 FY 2023: negative €64 million). Profit for Siemens Energy came in at negative €115 million (Q4 FY 2023: negative €551 million).
Accordingly, Siemens Energy incurred a net loss of €254 million (Q4 FY 2023: net loss €870 million) in the quarter. Corresponding basic earnings per share (EPS) were negative at €0.34 (Q4 FY 2023: negative €1.04).
For fiscal year 2025, Siemens Energy anticipates overall favourable conditions in its relevant market environment. Strong electricity consumption growth and the requirements of the energy transition necessitate investment in energy infrastructure, supporting all Siemens Energy businesses. Regarding Siemens Gamesa, a clear way forward is defined, and it is assumed that the company will successfully continue on the path to reach break-even in fiscal year 2026. In particular, sales activities for the 5.X onshore turbine are expected to resume during fiscal year 2025.
Therefore, Siemens Energy expects to achieve comparable revenue growth (excluding currency translation and portfolio effects) in fiscal year 2025 in the range of 8% to 10% (actual figure FY 2024: 12.8%) and a profit margin before special items between 3% and 5% (actual figure FY 2024: 1.0%). Net income is expected to be around break-even.
