Siemens Energy expects to make about €1bn in profit in 2025 after upgrading its outlook because of a booming global electricity market.
In an ad hoc announcement published on Wednesday night, the German producer of gas turbines and power grid equipment increased its profit expectations, projecting a net income of “up to €1bn”. That figure is lower than the €1.3bn profit it posted last year but higher than the guidance previously issued, which had said it expected to roughly break even.
The company also raised its revenue forecasts for the fiscal year 2025, which ends in September, lifting them from 8-10 per cent to 13-15 per cent.
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