Siemens Energy Accelerates Buyback This Year on Data Center Boom
5 Articles
5 Articles
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The boom in AI data centers and power grids drives orders and cash flow. Now, the Energietechnik Group prefers stock buybacks in billions. Why sales and profit forecasts are increasing.
A month ago, Siemens Energy CEO Christian Bruch presented strong quarterly results. Now he plans to spend up to one billion euros more on share buybacks. Investors are likely to welcome this.
Siemens Energy accelerates share buyback after Q2 cash flow jumps
FRANKFURT, May 12 (Reuters) – Siemens Energy will accelerate its standing share buyback programme after posting a 42% increase in pre-tax free cash flow, the company said on Tuesday, benefitting from demand for data centres to power artificial intelligence technology. The company, which released preliminary results last month alongside a raised outlook for the current fiscal year, said it would buy back up to 3 billion euros worth of stock in 20…
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