Siemens Energy boasts record gas turbine orders to power demand boom
Yusuf Latief
Posted on: 11 February 2026
The company’s Q1 profit is more than double compared to the prior year, demonstrating soaring demand for data centre power delivery.
Siemens Energy has reported record gas turbine order backlog and more-than-doubled profit in the first three months of its 2026 fiscal year, citing a booming market driven by continually soaring electricity demand.
The German manufacturer's net income rose sharply, amounting to €746 million ($888 million), nearly triple its Q1 FY 2025 figure of €252 million ($300 million). Additionally, their profit before specials items rose to €1.2 billion ($1.4 billion), more than doubling from the year prior.
The company’s orders amounted to €17.6 billion ($21 billion), with its Gas Services order intake – its highest ever - being the primary growth driver. Additionally, both Grid Technologies and Transformation of Industry achieved double-digit growth rates.
The company has benefited from rising electricity demand and the need for modernisation and expansion of electrical infrastructure.
Robust demand for its business was broad-based across regions and technologies, with strong data centre expansion specifically. As a result, their order backlog rose to a new high of €146 billion ($174 billion).
The company cites sharply increased volume from large orders and particular demand in the new units business from the US, Poland, Turkey as well as Taiwan. For their Grid business, the largest growth driver was in the US.
Christian Bruch, the company’s President and Chief Executive Officer, told the press: “This is now a phase where demand for gas turbines is extremely high. We're talking about the delivery dates [for 2029 and 2030]. There were some slots for 2028 but [it’s] a very high-demand market.”
More on Siemens Energy:
Siemens Energy turbines to add 125MW to Bruce A nuclear plant
DEWA and Siemens Energy enter stage two of AI plant controller project
Siemens Energy joins 'Made for Germany' initiative to revive economy
According to Bruch, in Q1, the company received orders for more than 100 gas turbines.
“Just to give you an idea here, last year for the whole year, we sold 200 and [this year] in the first quarter, we've sold half as much already. That shows how strong it is.”
Q1 orders were 40% from the US, 35% from Europe, and 15% from the Middle East and China
Orders for the company’s wind business were lower at €1.5 billion ($1.8 billion), marking a 33.7% drop, due to an exceptionally large offshore order in the North Sea from the previous year, which alone accounted for over €1.4 billion ($166.8 billion), booked in the prior-year quarter.
Bruch said their wind business shows “early signs of modest improvement”, with the operating loss having been narrowed to €46 million ($54.8 million).
The Q1 results come a week after the company committed $1 billion to manufacturing expansion in the US, where Bruch has said there is a “once-in-a-generation growth opportunity due to the resurgence of US manufacturing and the growth of artificial intelligence”.
The same week, the IEA in a report warned of rapidly rising power demand, set to grow globally at least 2.5 times as fast as overall energy demand to 2030. This is driven by rising industrial use of electricity, the continued uptake of EVs, higher air conditioning use and the expansion of data centres and AI.
