Siemens Energy’s wind business, operated under the Siemens Gamesa division, showed significant operational improvement during the second quarter of fiscal year 2026, despite mixed order and revenue trends. The business continued its recovery strategy through cost reductions, productivity improvements, and the rollout of next-generation turbine platforms.
Siemens Gamesa reported orders of €846 million in Q2 FY 2026, compared with €875 million in the same quarter last year. On a comparable basis, orders increased 3.3 percent, supported mainly by growth in the onshore wind turbine business. The company also received its first commercial orders for the new SG 7.0 turbine platform, which is positioned as the successor to the existing 5.X turbine series.
Revenue from the wind business reached €2.53 billion during the quarter, compared with €2.71 billion in Q2 FY 2025. Comparable revenue growth was slightly positive at 0.4 percent. Offshore wind operations and higher service revenue offset weaker performance in the new units business.
A major highlight for Siemens Gamesa was the sharp improvement in profitability. The segment reduced its loss before special items to €44 million from €249 million in the previous year. Profit margin before special items improved to negative 1.7 percent from negative 9.2 percent. The reported operating loss narrowed significantly to €39 million from €510 million a year earlier.
Siemens Energy attributed the improvement primarily to productivity gains and stronger cost efficiency across the wind business. Special items also improved substantially, with positive €5 million in Q2 FY 2026 compared with negative €261 million in the previous year.
The wind business recorded a book-to-bill ratio of 0.33 during the quarter, reflecting lower order intake relative to revenue. Siemens Gamesa’s order backlog declined to €33 billion.
For the first half of FY 2026, Siemens Gamesa generated orders of €2.4 billion, down 23.9 percent on a comparable basis from €3.31 billion last year. Revenue for the six-month period totaled €4.88 billion compared with €5.12 billion in the prior-year period.
The division significantly reduced its first-half loss before special items to €90 million from €623 million in the prior year. Profit margin before special items improved to negative 1.8 percent from negative 12.2 percent.
In terms of business mix, Siemens Gamesa generated €1.93 billion in new units revenue during Q2 FY 2026, compared with €2.12 billion last year. Service revenue increased to €599 million from €582 million, highlighting the growing contribution of long-term maintenance and operational support contracts.
Siemens Energy maintained its forecast for Siemens Gamesa’s profitability while slightly raising its revenue outlook for FY 2026. The company now expects Siemens Gamesa to achieve comparable revenue growth of 3 percent to 5 percent, compared with the earlier forecast of 1 percent to 3 percent. The company continues to target break-even profit margin before special items for the wind business.
BABURAJAN KIZHAKEDATH
