Frankfurt, Feb 12, 2026, 11:37 CET — Regular session
- Siemens shares surged after the company topped Q1 forecasts and raised its full-year earnings guidance.
- Management highlights demand coming from data-centre infrastructure, along with a pickup in factory automation orders.
- Investors are eyeing the annual meeting in Munich, with the next results update set for May.
Shares of Siemens (SIEGn.DE) surged more than 6% on Thursday, after the German industrial giant boosted its yearly profit forecast, riding on stronger-than-expected demand for AI-fueled data-centre infrastructure. “Demand for data centres had considerably exceeded our expectations,” CEO Roland Busch told reporters. Deutsche Bank’s Gael de-Bray labeled it “a promising start to the year.” Still, CFO Ralf Thomas flagged lingering nerves around tariffs and geopolitics, describing investment sentiment as “pretty shaky.” 1
This shift is significant. Investors have been searching for concrete evidence that substantial industrial spending hasn’t collapsed in Europe—even as many companies grumble about shaky order intake and sluggish client decisions. Capex tied to data centres has stayed sticky; Siemens supplies gear and software for power systems, buildings, and automation on factory floors.
The speed at which the market rewrites the DAX leaderboard is on full display: Siemens surged to an all-time high, even overtaking SAP for a moment as Germany’s top-listed company by market value. 2
Siemens reported a 10% jump in orders on a comparable basis for the quarter ended Dec. 31, reaching 21.4 billion euros. Comparable revenue climbed 8% to 19.1 billion euros. Industrial business profit came in at 2.9 billion euros, up 15%, yielding a margin of 15.6%. The company’s order backlog swelled to a record 120 billion euros, with a book-to-bill ratio of 1.12. Net income landed at 2.2 billion euros, down against last year’s numbers, which had been boosted by a one-off gain from the Innomotics sale. Siemens is putting forward a 5.35-euro dividend for fiscal 2025. 3
Siemens bumped up its EPS pre PPA forecast to 10.70–11.10 euros for fiscal 2026—a profit measure that leaves out acquisition-related accounting charges. The company stuck to its 6%–8% comparable revenue growth target for the group, laid out divisional margin goals, and warned that currency swings could drag on headline growth. The outlook, Siemens noted, doesn’t include potential costs from legal or regulatory issues. 4
Siemens shares hovered near 271.6 euros late in the morning, after closing at 256.25 the previous session. The stock fluctuated between 266.97 and 274.15 so far today. 5
Later Thursday, Siemens’ annual shareholders’ meeting in Munich brings investors a direct read on management’s messaging. Attention is likely to hold on the dividend proposal and capital return strategy. 6
The rally has narrowed the margin for error. Any stall in data-centre orders, faltering recovery in factory automation, or fresh blow to corporate spending triggered by politics or trade could put the upgraded outlook under immediate pressure.
The stock’s next catalyst? Investors are eyeing updates from the annual meeting, followed by the company’s Q2 numbers dropping on May 13. 7
