Siemens Energy orders $135 billion in record order volume

Siemens Energy announced a record order book of 131 billion euros ($135.5 billion), boosted by a strong demand for energy equipment. This includes everything from wind and gas turbines, to power converters and electrolysers.

According to the company, it also reported a net profit of 252 millions euros for the first three months of its financial year. This was higher than the 130 million euro expected by analysts in a LSEG survey.

Siemens Energy has seen its order book grow by over a third in the last few years. This is due to global efforts to reduce carbon emissions and a spike in demand for electricity to power data centres.

Christian Bruch, CEO of Xcel Energy, said: "Our strong quarter reflects market opportunities that arise from the increased demand for electricity."

Siemens Energy, whose shares are expected to grow the most of all German blue-chips by 2024, published last month better than anticipated preliminary results for that period.

The company reported that orders in the U.S. grew by 62% to 3.9 billion euro in the first quarter.

(source: Reuters)