Siemens Energy AG reported first-quarter net profit nearly tripled to €746 million as record orders and strong demand for gas turbines and grid equipment boosted margins. The German energy equipment maker posted €17.60 billion in orders, up 34% on a comparable basis, with revenue climbing 13% to €9.70 billion.

Profit before special items more than doubled to €1.16 billion, with the margin expanding to 12% from 5.4%. Free cash flow before taxes nearly doubled to €2.90 billion, supported by advance payments that increased contract liabilities by €2.50 billion. The book-to-bill ratio rose to 1.82 from 1.53, indicating order intake outpaced revenue growth.

The company confirmed its full-year outlook, expecting comparable revenue growth of 11-13% in fiscal 2026 and a profit margin before special items of 9-11%. Siemens Energy plans to begin share buybacks in the second quarter and proposed a dividend of €0.70 per share. The strong performance across divisions, particularly in Gas Services and Grid Technologies, positions the company for continued growth through fiscal 2028.