Siemens Energy delivered a solid operating performance for fiscal year 2020 and achieved its guidance. The newly listed company increased new orders 1% from the prior year, to EUR 34 billion – amid a challenging macroeconomic environment which was dominated by the COVID-19 pandemic. Key projects included an order for the seventh offshore wind farm grid connection in the North Sea, and an agreement on the first megawatt-level production facility for green hydrogen in China. Siemens Energy ended the fiscal year with an order backlog totaling EUR 79 billion.
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020.