Siemens Energy AG’s shares advanced 1.6% to €151.16 on Tuesday after the company disclosed an extraordinary supervisory board meeting to evaluate a potential majority stake sale or spin-off of its Transformation of Industry division.
The division, which includes industrial steam turbines, oil-sector compressors and hydrogen electrolyzers, generated about €5.7 billion in annual revenue at an operating margin of roughly 14%. A separation would allow Siemens Energy to redirect capital and management resources toward its higher-returning Gas Services and Grid Technologies businesses. The strategic review is internally designated as "Project Voyager," with Goldman Sachs retained to solicit potential offers that could exceed €10 billion.
The news follows Siemens Energy’s record third-quarter results, with comparable revenue up 18.5% to €11.45 billion and order intake reaching a record €17.9 billion. Net profit more than doubled year-over-year, and the company reaffirmed its full-year outlook, targeting margins toward the upper end of its guided range.
Analysts have maintained a constructive stance on the stock. RBC Capital Markets reiterated an "Outperform" rating on August 20, while the broader analyst community holds a buy consensus with a 12-month average price target near €197. The DAX was expected to rise about 0.3% to trade above 26,000 points, with investor attention also focused on Nvidia’s upcoming earnings report and Federal Reserve Chair Kevin Warsh’s remarks at the Jackson Hole symposium. U.S. benchmarks showed modest gains, with the S&P 500 up 0.3% and the Nasdaq advancing 0.6%.
