Siemens Energy Secures Four More Gas Turbines in Malaysia as Board Clears ToI Spin-Off
Published on 09/19/2026 at 08:50 | Editorial boerse-global.de
Siemens Energy's week has been anything but quiet. After a sharp pullback on Monday, the stock reportedly touched a six-month low of EUR 132.82 on Tuesday, only to reverse course on Wednesday with a 3.97% gain. By Friday's close, the shares had settled at EUR 140.98.
The Munich-based energy technology group has now added a fresh commercial win to its books. YTL Power International and Ganda Power signed reservation agreements on Monday for four additional SGT-9000HL gas turbines, according to media reports. Combined with three units already secured, the arrangement now covers seven turbines destined for power projects in Malaysia and the wider region. Running at full tilt, those seven high-efficiency units are expected to deliver more than 5,250 megawatts of combined capacity. Crucially, the deal locks in early manufacturing slots for key components at a time when global demand for power generation equipment shows no sign of cooling.
Board Greenlights ToI Independence
On the corporate side, Siemens Energy's supervisory board approved the carve-out of its "Transformation of Industry" (ToI) division on August 25. The move is designed to give the business the leeway to operate independently and respond more nimbly to customers pursuing industrial decarbonization. ToI is no small piece of the group: it employs roughly 17,000 people and generated EUR 5.7 billion in revenue during fiscal 2025, with a profit margin of 11.3%.
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Management expects the restructuring to streamline internal processes and sharpen the group's focus on the core segments driving the energy transition. For the parent company, the spin-off amounts to a clearer profile rather than a retreat — resources are to be channeled more tightly toward the businesses at the heart of the shift to cleaner power.
Order Book and Analyst Support
The operational backdrop remains sturdy. Siemens Energy booked a record EUR 17.9 billion in orders during its third fiscal quarter, lifting its total backlog to EUR 162 billion. The book-to-bill ratio stood at 1.57. Guidance for the current fiscal year was reaffirmed, with management indicating that the margin before special items could land at the upper end of its targeted range.
Analysts have taken note. JPMorgan reiterated its "Overweight" rating on September 9 with a EUR 245 price target, following discussions with CEO Christian Bruch. Jefferies had already refreshed its view on September 2, trimming its target slightly from EUR 215 to EUR 210 while keeping a "Buy" recommendation. Other houses have likewise maintained constructive stances on the stock.
Since the start of the year, Siemens Energy shares have gained 17%, as investors weigh broad macroeconomic uncertainty against the company's long-term growth prospects. Demand for grid and power transmission solutions continues to underpin the business. Operating independently from former parent Siemens AG since its 2020 spin-off, the group remains focused on building and transforming modern energy infrastructure — a strategy that large-scale project wins such as the Malaysian turbine reservation serve to reinforce.
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