Siemens raises earnings outlook on AI data centre demand
The German industrial giant reports 15% profit growth to €2.6 billion as record orders lift its future sales forecast.
German industrial conglomerate Siemens has increased its earnings forecast for the second time this year, driven by robust demand for artificial intelligence-related data centre services. The company's Smart Infrastructure business, which provides electrical equipment for data centres and industrial clients, played a significant role in this growth.
Siemens anticipates earnings per share to range between €11.20 and €11.50 for the year, reflecting a positive shift from the previous range of €10.70 to €11.10. The company's CEO, Roland Busch, attributed the success to the firm's technological leadership, strategic focus on industrial AI, and a strong position in lucrative markets.
In the three months ending June, Siemens reported a 15% increase in net profit to €2.6 billion and an eight percent rise in sales to €20.8 billion. The surge in orders, which reached a record €27.9 billion, accounting for a 14% year-on-year increase, reflects a backlog of €132 billion in work. The AI-adjacent Smart Infrastructure division, a key contributor to this surge, experienced a 42% rise in orders.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
