Siemens Energy Boosts Outlook on Turbine, Data Center Demand

Siemens Energy AG substantially raised its mid-term financial targets on strong demand for gas turbines and data center equipment as well as restructuring progress at its Gamesa wind turbine unit.

The manufacturer sees returns before special items as high as 16% by fiscal 2028, up from a previous target of as much as 12%. The company, which long struggled to overcome issues with malfunctioning onshore wind turbines, also hiked its projections for revenue growth.