Siemens Energy Wins LanWin3 Converter Contract as Record Orders Meet a Stubborn Chart
Published on 09/18/2026 at 17:30 | Editorial boerse-global.de
Siemens Energy has added another sizeable piece of European grid infrastructure to its backlog, with transmission system operator 50Hertz awarding the LanWin3 offshore converter platform to a consortium of NSORe and the Munich-based group. Under the arrangement, Siemens Energy supplies the high-voltage equipment for the converter station, which is designed to handle two gigawatts of transmission capacity.
The award follows hot on the heels of LanWin6, the sister project already assigned to the same construction consortium. Together, the two platforms carry a combined volume of roughly EUR 2.5 billion. Their job is to bundle offshore wind power at sea and feed it via the NordOstLink direct-current corridor to load centres on land — a mechanical link in the chain that Europe's energy transition depends on.
Trading in the stock was muted on the news. The shares changed hands at EUR 141.62, a gain of 0.4%, as investors weighed the fresh contract against a broader consolidation phase.
Grid work keeps pace with offshore build-out
The LanWin3 decision is the second grid-connection development to surface in as many days. Siemens Energy is also pushing ahead with offshore connection work in Rostock alongside Neptun Werft and its partner Smulders, extending its footprint in a segment where demand for transmission technology keeps running into the massive investment programmes tied to renewable energy expansion. The company has positioned itself deliberately as the technical supplier of ready-to-install components for these projects.
Should investors sell immediately? Or is it worth buying Siemens Energy?
Behind the individual awards sits a broader order book that has rarely looked stronger. Order intake hit a record EUR 17.9 billion, lifting the total backlog to EUR 162 billion. Revenue climbed 18.5% year on year, while adjusted profit before special items came in at EUR 1.62 billion. Much of the relief on the earnings side traces back to Siemens Gamesa, the wind unit that has returned to profitability after a prolonged stretch of losses.
Supervisory board clears ToI spin-off
While the operating side accelerates, management is simultaneously reshaping the group. On 25 August, the supervisory board approved the spin-off of the "Transformation of Industry" (ToI) division, which houses the steam turbine and hydrogen businesses. That unit generated EUR 5.7 billion in revenue in fiscal 2025 and employs roughly 17,000 people. The move is intended to reduce complexity across the portfolio.
Chart resistance and the analyst view
For all the operational momentum, the technical picture remains demanding. The stock continues to trade below its 200-day moving average of EUR 152.67, a level many market watchers treat as the decisive threshold for a durable trend reversal.
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Expectations for the rest of the year stay elevated nonetheless. Consensus forecasts put the average price target at EUR 194.80, with full-year earnings per share projected at EUR 4.45. Analysts have broadly welcomed the strategic direction, and despite short-term swings in recent weeks, Siemens Energy retains a stable overall trend on the exchange. The company will provide detailed insight into whether it is hitting those targets when it publishes its full annual results on 11 November.
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