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Siemens Energy has announced a strong start to its fiscal year 2025, with a greater-than-expected free cash flow pre-tax. As a result, the company plans to update its free cash flow pre-tax guidance with its half-year results for fiscal year 2025.
The company published its preliminary results for the first quarter of fiscal year 2025, which showed a strong performance across various segments. Order intake was €13.7 billion, down 10.2% comparable to the same period last year, while revenue was €8.9 billion, up 18.4% comparable.
Profit before special items was €481 million, reflecting a margin of 5.4%. Free cash flow pre-tax was €1.5 billion, a significant improvement from the negative €283 million in the same period last year.
The company’s Gas Services segment performed well, with order intake up 24.6% comparable to the same period last year. Revenue was up 5.9% comparable, and profit before special items was €412 million, reflecting a margin of 14.6%.
The Grid Technologies segment also showed a strong performance, with order intake down 36.5% comparable, but revenue up 24.0% comparable. Profit before special items was €309 million, reflecting a margin of 12.5%.
The Transformation of Industry segment reported a decline in order intake, but revenue was up 17.9% comparable. Profit before special items was €157 million, reflecting a margin of 11.8%.
The company’s wind turbine business, Siemens Gamesa, reported a significant increase in order intake, up 51.9% comparable. Revenue was up 18.4% comparable, but profit before special items was negative €374 million, reflecting a margin of negative 15.5%.
Overall, Siemens Energy’s performance in the first quarter of fiscal year 2025 was strong, with the company exceeding expectations in several areas. The company plans to update its free cash flow pre-tax guidance with its half-year results for fiscal year 2025.