FRANKFURT (Reuters) -Siemens Energy expects to hit the upper end of its 2025 outlook, it said on Wednesday, driven by its wind turbine division and strong demand in the United States for its power equipment that helped it to shrug off the impact of import tariffs.
The company, which reported higher-than-expected third-quarter orders and profits, said it is now trending towards the upper end of its outlook, which foresees sales growth of 13-15% and a profit margin before special items of 4-6%.
According to the LSEG poll, Siemens Energy’s full-year sales are expected to rise by 12.7%.
The company said it was seeing strong demand for its gas turbines as well as power transmission equipment in the United States, where it makes around a fifth of its sales.
Local import tariffs have dealt a 100 million euro ($116 million) hit to Siemens Energy’s profit, the company said, adding this was mainly due to one-offs in its long-term service agreements.
($1 = 0.8635 euros)
(Reporting by Christoph Steitz; Editing by Sandra Maler and Miranda Murray)
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