With an annual increase of almost …320% within the Dax index, Siemens Energy recorded the strongest growth for the 2024 financial year in all European markets combined. The German multinational specializing in the manufacturing of power plants (+0.60% to 50.38 euros) recovered well on the stock market in one year after a very complicated year 2023 (the action then fell by 31%). In 2023, the group faced an unprecedented crisis linked to inflation and multiple outages. The German state then came to its rescue to guarantee it 7 billion euros in liquidity.
On November 13, Siemens Energy published solid results for the entire 2024 financial year, reassuring investors.
Over this period, its turnover stood at 34.5 billion euros, an increase of 12.8% on a comparable basis, thanks to growth in all segments.
Net profit amounts to 1.34 billion euros compared to a net loss of 4.59 billion euros in 2023. Earnings per share are positive at 1.37 euros compared to a loss per share of 5.47 euros.
Its heavy losses in 2023 can be explained by the high losses suffered by its Spanish subsidiary in the wind sector, Siemens Gamesa. Therefore, the company had announced the abandonment of its profitability target for the 2023 financial year.
Pre-tax free cash flow increased significantly to €1.86 billion from €784 million in 2023.
Siemens Energy forecasts a profit margin before special items of 3 to 5% for the 2025 financial year, compared to 1% in 2024 as well as an increase in its turnover between 8 and 10%.
Until fiscal year 2028, the German group targets compound annual revenue growth on a comparable basis in a range between 7-9% and 10-12%. He anticipates a profit margin of between 10 and 12% for 2028.
