Record Quarterly Orders
Orders of EUR 17.6 billion (nearly EUR 18 billion), the strongest quarter in company history; up 34% year‑on‑year on a comparable basis; book-to-bill 1.82.
Record Order Backlog and Revenue Coverage
Order backlog reached a record EUR 146 billion (up from EUR 138 billion in Q4 FY25); revenue coverage ~90% for the remainder of FY26 and just over 70% for FY27.
Top‑Line Growth
Revenue of EUR 9.7 billion, up 12.8% year‑on‑year on a comparable basis (noting a ~400 bps FX headwind from weaker USD).
Profitability Improvement
Profit before special items EUR 1,159 million (margin 12.0%), more than double prior year margin of 5.4% (+660 basis points year‑on‑year).
Strong Net Income and Liquidity
Net income EUR 746 million (increase of EUR 494 million YoY); cash & equivalents EUR 11.8 billion and adjusted net cash position EUR 7.6 billion (vs EUR 4.8 billion at FY25 end).
Record Free Cash Flow
Free cash flow (pretax) of EUR 2.9 billion, nearly doubling year‑on‑year, supported by strong orders, reservation fees and customer prepayments.
Exceptional Gas Services Performance
Gas Services orders EUR 8.8 billion (up 81% YoY); booked 102 gas turbines (13 GW of new gas turbine orders in Q1); backlog for Gas Services EUR 60 billion; revenue up ~13.9%; PBT EUR 515 million (margin 16.6%, up from 14.6% YoY); book-to-bill 2.83; free cash flow pretax EUR 1.9 billion.
Grid Technologies Strength
Grid Technologies orders EUR 6.0 billion (up 22% YoY); backlog EUR 45 billion; revenue EUR 3.1 billion (up 26.9% YoY); PBT EUR 538 million (margin 17.6%, +520 bps YoY); free cash flow pretax EUR 1.8 billion.
Siemens Gamesa Turnaround Progress
Siemens Gamesa profit before special items narrowed to negative EUR 46 million vs negative EUR 374 million a year ago (material improvement); revenue EUR 2.4 billion, up 3.9% comparable; still on path to breakeven with productivity gains in offshore and services.
Strategic Investments, Capacity Expansion and Ratings Upgrade
Elevate program progressing; approximately $1 billion U.S. investment program to expand manufacturing and add ~1,500 jobs; tripled wind transformer production in Austria and opened transformer tank plant in Croatia; investment in ASTA Energy to secure copper supply; S&P upgraded to BBB (positive) and Moody's to Baa1 (stable).
Shareholder Returns and Capital Allocation
Dividend proposal EUR 0.70 per share for FY25 (~EUR 600 million cash out in Q2) and share buyback program up to EUR 6 billion through FY28 to commence in March.