Siemens Energy, one of the world’s leading energy technology companies, generated a 70.5% rise in net profit in the third quarter (Q3) of 2026, amounting to €1,188 million, driven by growth recorded across all segments, according to a press release by the company.

The company recorded a 18.5% Year-over-year (YoY) rise in revenue (excluding currency translation and portfolio effects) to €11.4 billion.

“Global electricity demand – and consequently for our products – remained strong in the third quarter. We delivered record orders, revenue, and profitability, while continuing to improve efficiency,” said Christian Bruch, President and CEO of Siemens Energy AG.

“The fact that our wind business has returned to profitability in a quarter for the first time since 2022 is a fantastic achievement by this team,” he added.

Siemens Energy reported a record €17.9 billion in orders during the quarter, compared to €16.6 billion last year. This has lifted its order backlog to €162 billion.

The company’s gas services posted a 61.9% increase in orders to €10 billion, while revenue rose 20.8% to €3.76 billion. The business was driven by strong US demand, including data center projects, alongside power plant orders from the Middle East and Asia. Its order backlog reached €73 billion.

Its grid technologies also recorded a 27.6% rise in orders to €5.37 billion and a 28.6% increase in revenue to €3.62 billion, supported by strong transformer demand, including from data center projects. Its order backlog rose to €51 billion.

In addition, the transformation of industry increased orders by 31.5% to €1.81 billion, while revenue grew 11.5% to €1.53 billion, led by its Compression new-units business and large orders from the Americas.

For its wind business, Siemens Gamesa’s revenue rose 13.5% to €2.74 billion, while orders fell 77% due to the absence of two large offshore orders recorded a year earlier. The business returned to profitability, reporting €75 million in profit before special items versus a €438 million loss a year earlier, supported by productivity gains and higher cost efficiency.

Siemens Energy confirmed its fiscal 2026 outlook and expects its profit margin before special items to be toward the upper end of its previously guided range of 10% to 12%.

It is worth noting that the company has seen its ⁠shares rise nearly sevenfold over the past two years, helped by soaring demand for its gas turbines and grid equipment that help power data centers needed ​for AI.