Siemens Energy forecasts higher margins

Siemens Energy plans to more than triple its dividend and expects higher profit margins by 2027. Surging demand for gas turbines and grid equipment from US data centres drives the positive outlook.

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FILE PHOTO: Miniatures of a windmill, solar panel and electric pole are seen in front of Siemens Energy's logo in this illustration created on January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

SIEMENS ENERGY AG targeted a profit margin of up to 16% for 2027 while more than tripling its dividend, driven by surging power demand. The energy equipment maker outpaced analyst expectations following a wider sector sell-off in AI equities. The upgraded guidance underscores resilient infrastructure spending in the world's largest data centre market.