Siemens Energy reported a stronger-than-expected second quarter for fiscal 2025, lifting its full-year guidance on the back of improved profitability and higher revenues, despite continued losses in its wind turbine unit, Siemens Gamesa.
The group posted profit before special items of €906 million for the quarter, a sharp rise from €170 million in the same period a year earlier. Net income reached €615 million, up from €501 million in Q2 2024, even after accounting for the loss from the disposal of a majority stake in Siemens Gamesa’s Indian wind business.
Siemens Energy attributed the improved results to “positive business development,” and adjusted its fiscal 2025 outlook accordingly. The company now expects comparable revenue growth of 13% to 15%, up from a previous forecast of 8% to 10%. Its projected profit margin before special items was raised to between 4% and 6%, compared with the earlier range of 3% to 5%.
The company also upgraded its net income guidance to as much as €1 billion, excluding potential gains related to the demerger of Siemens Limited India’s energy operations. Free cash flow before tax is now forecast at approximately €4 billion.
Despite the group’s strong overall performance, the wind turbine business of Siemens Gamesa continued to face challenges. It reported a loss before special items of €249 million in Q2 2025, an improvement from a loss of €446 million in the same quarter of the previous year. Orders in the wind unit stood at €875 million, nearly flat from €880 million in Q2 2024, while revenue grew to €2.7 billion from €2.3 billion.
Siemens Gamesa remains under pressure as the broader wind energy sector continues to face cost inflation and supply chain constraints.
Siemens Energy did not provide a timeline for when it expects the wind unit to return to profitability but emphasized that the business remains a “core part of the company’s long-term energy strategy.”
