Siemens reported a record quarterly profit on Thursday, beating analysts’ forecasts as demand for the equipment that powers artificial intelligence data centres and a surge in train orders lifted its order book to an all-time high.
The German engineering group said industrial profit jumped 22% to €3.89 billion ($4.31 billion) for the three months to the end of September, the highest quarterly figure it has ever posted. The result beat the €3.71 billion expected in a company-gathered consensus of analysts.
Revenue rose 11% to €23.68 billion, ahead of forecasts for €23.39 billion, while orders surged 58% to €34.77 billion, also an all-time high. The increase was fuelled by big contract wins at Siemens’ Mobility train-making business and at its Smart Infrastructure operation, which supplies electrical gear for data centres.
The results underline how the global race to build data centres to run AI systems is now a major driver for industrial suppliers, not just chipmakers. Siemens makes the power distribution, cooling and automation equipment that data centres, factories and buildings depend on, and demand for that kit has risen as technology companies pour money into AI infrastructure.
Siemens also raised its medium-term outlook, saying it now expects comparable annual revenue growth of 7-11%, up from 6-9% previously. The upgrade signals confidence that the order surge will feed through into sales over the coming years rather than fading after a single strong quarter.
As one of Germany’s largest industrial groups, Siemens’ performance is closely watched as a bellwether for European manufacturing. Its record quarter comes at a time when much of the continent’s factory sector has struggled with weak demand and high energy costs, making the strength of its data-centre and rail businesses stand out all the more.
Sources: Reuters, “Siemens posts Q4 profit above forecasts, raises mid-term guidance” (12 November 2026), https://www.reuters.com/business/siemens-posts-q4-profit-above-forecasts-raises-mid-term-guidance-2026-11-12/ — this report is based on a single Reuters account of Siemens’ results.
