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FRANKFURT (dpa-AFX Broker) - The shares of Siemens Energy stand out positively among a flood of reporting companies on Wednesday. With a price jump of more than eleven percent in the morning, they benefited from the fact that the energy technology group raised its sales forecast for this year sharply after a strong second quarter. At the most recent price of EUR 22.21, the shares rose significantly above the EUR 20 mark for the first time since June 2023. They were thus able to close large parts of a price gap that had emerged at the time.

After numerous profit warnings recently, the company is now sending out better news again. The energy technology group has surprised positively with its results, wrote analyst Supriya Subramanian from the major Swiss bank UBS in an initial commentary. In her opinion, the market's profit expectations are likely to rise in the mid to high single-digit percentage range.

For Akash Gupta from the US bank JPMorgan, the biggest positive surprise was that the company now expects a clearly positive cash inflow for the full year. Simon Toennessen from Jefferies Research agreed that the increased target for free cash flow was impressive. In addition to the cash inflow, the development of orders was also strong in the first quarter.

The development in the second quarter of the financial year "reflects the continued strong demand for our energy transition technology as well as initial successes in stabilizing the wind business," said Group CEO Christian Bruch. Instead of 3 to 7 percent, sales are now expected to grow by 10 to 12 percent in the current year - a difference in the billions.

Against the backdrop of the still loss-making business at the wind power subsidiary Gamesa, a restructuring program that has now begun should help to bring the problem child back into the black by 2026. According to JPMorgan expert Gupta, there was a second major surprise here, namely the resignation of Gamesa CEO Jochen Eickholt.

In the second half of 2023, the Siemens Energy share price slumped significantly, mainly due to Gamesa. In June last year, the share price was still just above the level it has now reached again, but by the end of October it had fallen to a record low of just €6.40. Since then, the share price has more than tripled again.

Siemens Energy has been listed on the stock exchange since the spin-off from Siemens in September 2020. Siemens still holds shares in the company, which is currently valued at just under 18 billion euros. The first price in fall 2020 was 22 euros. This means that the share price has now returned to its initial level. A few months after the IPO, the share price had climbed to 34.48 euros, its highest level to date, before gradually falling./tih/nas/zb

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