Name: 瓦斯和電網需求飆升，西門子能源受惠！| DW 新聞 (Surging demand for gas and grid boosts Siemens Energy | DW News)
Uploaded: 2025-11-21T16:58:17.000Z
Duration: 13 min 56 s

程度副詞

Yes, we have very positive market momentum, but we also have a record order backlog of 138 billion.

是的，我們有非常正面的市場動能，同時也有創紀錄的 1380 億訂單積壓。

情態副詞

In looking at our future growth and what's embedded in our outlook for our wind business, not only for 26, but

在展望我們未來的成長以及風力業務的展望中，不僅是 26 年，

28 and beyond, we never saw or had, let's say, a dependency on the US market.

還有 28 年及之後，我們從未見過或曾有過，這麼說吧，對美國市場的依賴。

A strong year for one of the world's biggest energy infrastructure companies, Siemens Energy.

對全球最大的能源基礎設施公司之一 Siemens Energy 來說，是強勁的一年。

It reported profits of 1.7 billion euros for the fiscal year 2025, with growth in sectors, but

它報告 2025 會計年度的利潤為 17 億歐元，各個領域都有成長，但

especially in its gas and grid related businesses.

尤其是在燃氣與電網相關業務方面。

Maria Ferrero is the company's Chief Financial officer and she joins me now for more on those results.

Maria Ferrero 是公司的財務長，她現在加入我，來談談這些業績。

You know, we've done this interview a few times in the past and to be honest, it's often followed a bit more disappointing results for Siemens Energy.

我們過去做過幾次訪談，老實說，Siemens Energy 的業績常常令人失望。

In particular, you had a problem with your wind energy subsidiary, Siemens Gamesa, including materials prices, which were quite challenging at the time.

特別是，你們的風力能源子公司 Siemens Gamesa 遇到了問題，包括當時非常具挑戰性的材料價格。

你認為是什麼原因讓你們成功扭轉了局面？

And yes, I'm really happy that we are well past the issues that we discussed last time.

沒錯，我很高興我們已經克服了上次討論過的那些問題。

When we look at fiscal year 25, we were able to do a number of things.

當我們看 25 會計年度時，我們完成了一些事情。

We have a very positive market momentum behind us.

我們有非常正面的市場動能支持著。

So we continue to grow our order intake and hence our order backlog.

所以我們的訂單量持續成長，訂單積壓也跟著增加。

So our order intake year exceeded prior year by almost 20% as a result of the very large.

我們的訂單量比去年同期成長了將近 20%，這歸功於非常龐大的。

We have a record order backlog of 138 billion.

我們有創紀錄的 1380 億訂單積壓。

And as a result of converting that into revenue, the team did a great job and also saw 15% growth in revenue this year to 39 billion.

而將這些轉化為營收後，團隊表現出色，今年的營收也成長了 15% 達到 390 億。

And of course that translated into profit.

We had 2 point, almost 2.4 billion in profit or 6% for the year for the group.

集團今年總計有近 24 億的利潤，佔 6%。

And I think we were able to capitalize on the market momentum.

我認為我們成功把握了市場動能。

We did a lot of hard work since we last spoke in terms, in terms of how we streamlined our operations, ensured that we got as efficient as possible.

自上次談話以來，我們在精簡營運、確保盡可能有效率方面付出了很多努力。

And of course with respect to wind, we see a stabilization there in that last prior year or fiscal year 25 as they move their way on the road to break even in fiscal year 26.

至於風力業務，我們看到在 25 會計年度趨於穩定，並朝著 26 會計年度的損益兩平邁進。

But again, all businesses showed tremendous growth in the year and of course that translated to an excellent profit and also by the way, a very excellent cash at $4.5 billion for us.

但總體來說，所有業務今年都呈現了驚人的成長，當然這也轉化為優異的利潤，順帶一提，我們還有 45 億的優異現金。

I want to ask more about wind in just a moment, but

我想馬上多問一些關於風力業務的問題，但

first, your gas and grid businesses are doing especially well as electric demand grows in all markets, including for data centers.

首先，隨著包括資料中心在內所有市場的電力需求成長，你們的燃氣與電網相關業務表現尤其亮眼。

To what extent is Siemens Energy riding an AI wave?

Siemens Energy 在多大程度上搭上了 AI 的順風車？

I'm so pleased that you asked that question because I actually want to perhaps put a little bit of a water into the wine when it comes to the data center and what that means to us at Siemens Energy.

很高興你問了這個問題，因為我其實想稍微為 Siemens Energy 的資料中心業務降降溫。

This is on top of the market momentum that I'm talking about.

這是在我剛才提到的市場動能之上。

And when we think about the electricity demands globally with respect to data centers, right now it's around 2 to 3%, and

當我們談到全球資料中心對電力的需求時，目前大約是 2% 到 3%，

of course they want to grow that to 4 to 6%, let's say by the end of the decade or just into the next decade.

當然，他們希望到這個十年底或下個十年初，能將這個數字成長到 4% 到 6%。

But it is growth and we're happy to have it, but we're not dependent on it.

但這確實是成長，我們很高興能參與其中，但我們並非依賴它。

I think what we're seeing and what we're experiencing, especially in our gas and grid business, is how do we continue to serve the electricity demands that continue to rise across all of the sectors, not just data centers, but

我認為我們所看到和經歷的，尤其是在我們的燃氣與電網業務中，是如何持續滿足所有領域不斷上升的電力需求，而不僅僅是資料中心，

And some of this is just our regular, if you'd like, business on where we see there's additional electricity demand and we either stabilize the grid, expand the grid, connect two countries, or in gas services, of course, we tend to see new power plants, for example.

其中一部分是我們常規的業務，也就是我們看到額外的電力需求時，我們會穩定電網、擴展電網、連接兩個國家，或者在燃氣服務方面，我們當然會看到新的發電廠，例如。

But data centers is important, and I really want to ensure that.

但資料中心很重要，我真的很想強調這一點。

I'm not stressing that it's not important, of course, and

我不是說它不重要，當然不是，

that growth is going to be a very nice growth and we will participate in that growth, but

那個成長會是非常好的成長，我們也會參與其中，但

And I think it's really important for me to delineate that it's not by far, not the majority of our revenues or our order backlog.

我認為對我來說，清楚地劃分這一點非常重要，這絕不是，也不是我們大部分的營收或訂單積壓。

Do you think then you're seeing that kind of hype around data centers built into your share price, which has more than doubled in fiscal year 2025?

那您認為，您看到圍繞著資料中心的這種炒作，已經反映在您的股價中，在 2025 會計年度股價翻倍以上了嗎？

Well, I would say it's a number of factors, and maybe data centers is one of them.

嗯，我會說這有很多因素，也許資料中心是其中之一。

But I think the primary factor is our turnaround case as a company and the ability to really show that we can stably, profitably grow.

但我認為主要因素是我們公司作為一個扭轉案例，以及我們能夠穩定、有利地成長的能力。

And I think that's fundamentally what has caused our share price to increase.

我認為這從根本上就是導致我們股價上漲的原因。

And by the way, we're very happy with that.

順帶一提，我們對此感到非常高興。

And of course, the data center, let's say, is fueling some of that market momentum behind.

當然，資料中心，可以說，正在為我們後續的市場動能注入動力。

But I wouldn't say that that's the only reason I really say that.

但我不會說這就是我真正這麼說的唯一原因。

It's really all comprehensive as to what we've done as a company, and we're very proud of it.

這確實是我們公司整體所做的一切的總體展現，我們對此感到非常自豪。

And our broad portfolio by the way I shouldn't neglect to say that, and

順帶一提，我們多元化的產品組合，我不能不提，

this trend towards modernizing electric grids, generation of electricity, you see that continuing into the years ahead, I assume you're projecting even higher margins in the coming few years.

還有電力網現代化、發電的趨勢，您預計未來幾年這種趨勢會持續下去，我猜您預計未來幾年利潤會更高。

Well, and maybe I go back to what I mentioned earlier, which is our order backlog.

嗯，也許我回到我剛才提到的，也就是我們的訂單積壓。

So we have, yes, we have very positive market momentum, but

所以，是的，我們有非常正面的市場動能，但是

we also have a record order backlog of 138 billion.

我們也有創紀錄的 1380 億訂單積壓。

And this is maybe also with respect to data centers and some of the volatility you see there.

這可能也跟資料中心以及你看到的市場波動有關。

We're actually need, I say, a very long cycle, almost, you know, long project based business.

我們實際上需要，我說，一個很長的週期，幾乎，你知道，是基於專案的長期業務。

And so therefore that's why I always talk about not only us growing our backlog, which is great and it's across the board, but

所以，這就是為什麼我總是強調，不僅是我們的訂單積壓在成長，這很棒而且是全面的，但

it's really about looking at that backlog with respect to longevity.

關鍵在於從長遠的角度來看待這個訂單積壓。

So a lot of that goes into well beyond even our mid year target range, but

所以，很多部分都遠遠超過了我們的年中目標範圍，但

also in terms of its project margin and the quality of that project margin therein.

同時也關乎專案利潤以及其中專案利潤的品質。

So we actually have a lot of visibility not only to this new fiscal year, fiscal year 2020, but

所以，我們不僅對這個新的會計年度，也就是 2020 會計年度，有很高的能見度，

And that's why I would say when you look at what we are looking at with respect to our business, we do have a lot of stability due to the way our project business is embedded in our backlog.

這就是為什麼我會說，當你看看我們對業務的展望時，由於我們的專案業務嵌入在訂單積壓中，我們確實有很大的穩定性。

And of course I shouldn't forget to talk about also our service because service contracts actually go beyond on average 10 to 15 years in duration.

當然，我也不能忘了談論我們的服務，因為服務合約的平均期限實際上超過了 10 到 15 年。

And that's all embedded in that 138 billion.

這一切都包含在那 1380 億裡面。

To be clear, the service and maintenance of a lot of what you're building right now, modernized infrastructure, things like that.

說清楚一點，就是你現在正在建造的許多東西的服務和維護，現代化的基礎設施，諸如此類的。

I want to sort of move in a different direction.

We're in the middle of a major climate summit, COP30 right now and we continue to hear more voices warning of a growing apathy in climate policies.

我們目前正處於一個重要的氣候高峰會 COP30，我們持續聽到越來越多聲音警告氣候政策的冷漠感日益嚴重。

I'm curious to what extent you see anything like policy apathy in terms of climate in your business and in your orders.

我很好奇，在氣候方面，你覺得在你的業務和訂單中，有多大程度看到了政策冷漠的現象。

You of course have a very important wind side.

你當然有非常重要的風力業務。

And I think, look, when it comes to, you know, even looking at what we do in gas, right, I mean, we want the coal to X transition to occur.

我認為，你看，當談到，你知道，即使看看我們在燃氣方面所做的，對吧，我的意思是，我們希望煤炭轉型到 X 發生。

I mean that's also very much embedded in some of, you know, whether it's gas or whether it's stabilizing the grid, expanding the grid, all of these things contribute to, you know, a greener environment, a greener energy mix.

我的意思是，這也很大程度上體現在一些，你知道，無論是燃氣，還是穩定電網、擴大電網，所有這些都有助於，你知道，一個更綠色的環境，一個更綠色的能源組合。

sometimes we get the question, you know, do you continue to remain committed to Your wind business.

有時候我們會被問到，你們是否仍然致力於風力業務。

And we very clearly, very clearly commit to the wind business in that for an energy transition to occur, you absolutely must have that wind business embed.

我們非常清楚地承諾風力業務，因為要實現能源轉型，風力業務絕對是其中不可或缺的一環。

But also what we've said, Stephen, over and over is that transition is going to take time.

但我們也一再說過，Stephen，轉型需要時間。

And right now I would much rather ensure that you have gas turbines installed ripping out coal, which we know has higher greenhouse gas emissions, and

而現在，我寧願確保你們安裝燃氣渦輪機來取代燃煤，因為我們知道燃煤的溫室氣體排放更高，而且

ensuring that we have high efficiency gas turbines in a particular plant, for example, that's hydrogen ready.

確保我們在特定電廠擁有高效率的燃氣渦輪機，例如，它是為氫能準備的。

And I think that's what makes our portfolio so special, is we have the full breadth and ensuring that whatever speed the world wants to take, and

我認為這就是讓我們的產品組合如此特別的原因，我們擁有完整的廣度，並確保無論世界想以什麼速度發展，

we would love for it to accelerate into more green, clean energy sources, but

我們當然希望它能加速轉向更多綠色、清潔的能源，但

whatever speed is reasonable, let's do what makes sense and what's right now, and

無論是什麼樣的速度是合理的，讓我們做現在有意義且正確的事，

I think that's what our portfolio is, is allowing us to achieve with our customers that wind energy business seemingly becoming more difficult as markets diverge in what they want from wind energy.

我認為這就是我們的產品組合，讓我們能夠與客戶一起實現，風力能源業務似乎變得越來越困難，因為市場對風力能源的需求日益分歧。

Siemens Energy warned last November about the incoming US administration and its stance on wind projects.

Siemens Energy 在去年十一月就曾警告過，美國即將上任的新政府對於風力專案的立場。

How has that come out in the books for you guys?

這對你們的帳簿有什麼影響呢？

是的，這確實是個很好的問題。

And of course it created some volatility there.

But let me also be clear for us at Siemens Energy, and

但讓我說清楚，對我們 Siemens Energy 來說，

certainly in looking at our future growth and what's embedded in our outlook for our wind business, not only for 26, but

並且在展望我們的未來成長以及風力業務的展望中，不僅是 2026 年，

還有 2028 年及以後，我們從未對美國市場有過任何依賴。

As such, we have a number of contracts there.

是以，我們在那裡有許多合約。

With respect to offshore, maybe I should be specific.

關於離岸風電，或許我應該說得更具體一些。