Siemens Energy Pitches Data Center Growth and Record Orders to Investors After Stock’s Steep Retreat
03.06.2026 - 17:05:45 | boerse-global.de
Siemens Energy is this week taking its story on a European roadshow, armed with a €154bn order book and fresh evidence that the data center boom is already powering its bottom line. Chief executive Christian Bruch kicked off the investor offensive at the Berenberg Innovation Seminar in Zurich on Wednesday, with further stops planned in Munich, Copenhagen and Stockholm. The timing is deliberate: the stock has tumbled nearly 18% from its all-time high of €195.54 set in late April, and the company needs to reassure the market that its operational momentum remains intact.
The numbers certainly support the case. Grid Technologies, the network-equipment division, booked roughly €7bn in orders in the second quarter of the current fiscal year — a comparable jump of 41.5%. Revenue from the unit rose 12.3% to €3.067bn. The broader group’s order backlog stands at a record €154bn, with 93% of second-half 2026 revenue already covered by existing contracts and close to 80% of 2027 revenue secured. For the full year, Grid Technologies is targeting revenue growth of 25-27% and an operating margin of 18-20%, while the overall group expects comparable revenue growth of 14-16% and a margin before special items of 10-12%.
Data centers are a key driver. Siemens Energy is also the patron sponsor of the Datacloud Global Congress in Cannes this week, where it is positioning itself as the energy partner for hyperscalers. Roughly 25% of all gas-service orders now come from data center projects, and in the second quarter the company booked 5 gigawatts of orders from the segment — out of a total 12 GW. The customers include AWS, Microsoft and Google, all of whom are scrambling to power their artificial-intelligence workloads. The company offers the full value chain: gas turbines, transformers, storage technologies and grid transmission.
Should investors sell immediately? Or is it worth buying Siemens Energy?
Goldman Sachs has thrown its weight behind the stock, placing Siemens Energy on its “European Conviction List – Directors’ Cut” this month. Analyst Ajay Patel calls the company a “structural winner” from the AI era, estimating operating profit for 2030 will be 10% above consensus. He also expects the group to lift its medium-term targets at the next annual results and to provide an update on shareholder distributions. Moody’s, too, has turned more positive: at the end of May it affirmed Siemens Energy’s Baa1 long-term rating and raised the outlook from stable to positive, citing improved credit metrics.
Yet the share price has struggled to regain its footing. On Wednesday the stock rose 2.4% to €161.34, but it remains 9% below the record high over the past 30 days. Market participants attribute the pullback to profit-taking after a rally that had still left the shares up 31% year-to-date. The market now expects free cash flow of around €8bn for the current fiscal year — a figure that will be tested when the company reports third-quarter results on 5 August.
Before that, the quiet period begins on 1 July, leaving a narrow window for management to make its case. Bruch’s roadshow this week in Zurich, Munich, Copenhagen and Stockholm will be followed by a presentation at J.P. Morgan’s European Industrials Conference on 17 June. The message is clear: the order flow is real, the data center tailwind is structural, and the record backlog should eventually translate into earnings. For now, investors are waiting for proof.
Ad
Siemens Energy Stock: New Analysis - 3 June
Fresh Siemens Energy information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
