UPDATE 1-Siemens Energy raises outlook as demand for power equipment soars

Adds details, shares

FRANKFURT, April 23 (Reuters) - Siemens Energy ENR1n.DE on Thursday raised its outlook for 2026, joining peers in benefiting from a surge in demand for data centres that require power equipment the German company supplies.

Citing "positive business development" in the first six months of its financial year from October 1, and strong market demand, Siemens Energy said it now expects sales to grow by 14-16%, compared with 11-13% previously.

The company's profit margin before special items is now forecast at 10-12%, up from 9-11%.

The boost in demand for gas turbines and grid components, fuelled by energy-hungry data centres, also saw U.S. rival GE Vernova GEV.N raise its annual revenue and profit forecasts on Wednesday.

Siemens Energy shares hit a fresh record high earlier on Thursday, making it Germany's third most valuable company after former parent Siemens SIEGn.DE and SAP SAPG.DE with a market value of around 158 billion euros.


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