January 28, 2025 07:56 GMT
CAPITAL GOODS: Siemens Energy (SIENFI NR/BBB-/NR): 1Q25 Preliminary Results
CAPITAL GOODS
Positive for spreads. A preliminary release only, so we don’t have a great level of detail at this point. Full results due 12th February.
- Following a 20% equity fall in the wake of yesterday’s Deepseek news, Siemens Energy pre-released 1Q25 this morning.
- Prelim. Revenue is 6% ahead of consensus. Orders were 5% better.
- Prelim. Profit before SI beat by 19%, mainly from Gas Services.
- We don’t have consensus for FCF; €1.5bn prelim pre-tax is clearly a strong positive surprise.
- FY25 FCF guidance of up to €1bn will now be exceeded and will be updated at 1H25 results.
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