"Siemens Energy Reports $1.55B Net Profit in Q1 Amid Order Surge"
Siemens Energy reported a 1.58 billion euro net profit in its first fiscal quarter, driven by a surge in orders and the sale of its stake in its Indian affiliate to parent company Siemens. The company's order backlog reached a record high of 118 billion euros, with a strong performance in its grid technologies division. Despite a tough 2023 due to quality issues at Siemens Gamesa, the company's Chief Financial Officer expressed optimism about the momentum shown across its businesses and the expectation for continued growth.