For fiscal year 2025, we anticipate overall favorable conditions in Siemens Energy’s relevant market environment. Strong electricity consumption growth and the requirements of the energy transition necessitate investment in energy infrastructure supporting all businesses of Siemens Energy. Regarding Siemens Gamesa a clear way forward is defined, and we assume that we will successfully continue on the path to reach break-even in fiscal year 2026. In particular, we expect sales activities for the 5.X onshore turbine to be resumed during fiscal year 2025.
Therefore, we expect for Siemens Energy to achieve comparable revenue growth (excluding currency translation and portfolio effects) in fiscal year 2025 in a range of 8 % to 10 % (actual figure FY 2024: 12.8 %) and a Profit margin before Special items between 3 % and 5 % (actual figure FY 2024: 1.0 %). We expect Net income to be around break-even excluding assumed positive Special items subsequent to the demerger of the energy business from Siemens Limited, India (actual figure FY 2024: Net income €1,335m) and Free cash flow pre tax up to €1bn (actual figure FY 2024: €1,859m).
The outlook for Siemens Energy does not include charges related to legal and regulatory matters.
Overall assumptions per business area
- Gas Services assumes a comparable revenue growth of 7 % to 9 % (actual figure FY 2024: 1.4 %) and a Profit margin before Special items of 10 % to 12 % (actual figure FY 2024: 9.5 %).
- Grid Technologies plans to achieve a comparable revenue growth of 23 % to 25 % (actual figure FY 2024: 32.2 %) and a Profit margin before Special items between 10 % and 12 % (actual figure FY 2024: 10.5 %).
- Transformation of Industry expects a comparable revenue growth of 11 % to 13 % (actual figure FY 2024: 16.3 %) and a Profit margin before Special items of 8 % to 10 % (actual figure FY 2024: 7.4 %).
- Siemens Gamesa assumes a comparable revenue growth of negative 9 % to negative 5 % (actual figure FY 2024: positive 11.1 %) and a negative Profit before Special items of around €1.3bn (actual figure FY 2024: negative €1,781m).
