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Siemens Energy targets the upper end of its 2025 forecast on strong US Demand

Siemens Energy said that it expects to achieve the upper limit of its outlook for 2025, driven by the wind turbine division, and the strong demand in the United States of its power equipment, which helped it to overcome the impact of the import tariffs.

The company reported better-than-expected orders and profits for the third quarter. It said that it now tends towards the upper-end of its outlook. This predicts sales growth between 13-15%, and a profit before special items margin of 4-6%.

According to a LSEG survey, Siemens Energy expects its full-year sales to increase by 12.7%.

The company reported that it saw a strong demand in the United States for its gas-turbines and power transmission equipment, where around a fifth its sales are made.

Siemens Energy said that local import tariffs had caused a loss of 100 million euros ($116 million). This was due primarily to special cases in long-term contracts.

(source: Reuters)