On a preliminary basis, Siemens Energy reports results 'ahead of market expectations' for its first quarter 2023-24, with a profit before exceptional items of 208 million euros, compared with a loss of 282 million euros a year earlier.

This profit represents a margin of 2.7% on sales of 7.65 billion euros, up 12.6% on a like-for-like basis. Order intake climbed by 23.9% on a like-for-like basis to almost 15.4 billion.

'Continuing to observe a positive market environment', the German industrial group confirms its annual targets of a margin before exceptional items of between -2 and +1%, and like-for-like revenue growth of between +3 and +7%.

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