Siemens Energy reports preliminary quarterly revenue of about $9.4 billion

Siemens Energy, the world's biggest maker of offshore wind turbines, reported on Monday a preliminary first-quarter revenue of 8.94 billion euros ($9.37 billion), up 18.4% on a comparable basis and slightly above consensus estimates.

The firm's preliminary order intake figures stood at 13.67 billion euros for the quarter, down 10.2% on a comparable basis, above consensus estimates.

In November last year, Siemens Energy raised its midterm outlook as it reported a new record for its order book and a narrower fourth-quarter loss.

Siemens Energy on Monday reported a preliminary profit of 463 million euros in the first quarter. It also said that it expects to exceed guidance of free cash flow pre tax for fiscal 2025 of up to 1 billion euros.

Quality issues at some of its wind turbines in 2023 threw Siemens Energy into its largest crisis ever, causing it to rely on the state for vital project guarantees.

Since then, the company has sold assets, narrowed losses at its wind division (Siemens Gamesa) and grown its order book substantially. Its shares more than tripled last year.

On Monday, the Gamesa division reported preliminary revenue of 2.42 billion euros and a loss before special items of 374 million euros.

($1 = 0.9538 euros)