Siemens Energy Nails Offshore Milestone While Piling Into Share Buybacks

Siemens Energy finishes installing 100 turbines at UK's Sofia offshore wind farm, while aggressively repurchasing shares and acquiring Camlin to boost service revenue.

Siemens Energy is sending a rare message of reliability to the market, wrapping up the installation of a massive offshore wind farm in the British North Sea even as management aggressively scoops up its own stock. The combination of operational delivery and financial confidence underscores a company trying to rebuild trust after years of turbulence.

The "Sofia" project off the UK coast now has all 100 turbines in place — each an SG 14-222 model from Siemens Gamesa, with total capacity of 1.4 gigawatts. Installation was confirmed by marine contractor Cadeler and developer RWE. Once fully operational, the park is expected to power roughly 1.2 million British homes. For the wind division, the on-time completion offers a badly needed counterpoint to the quality problems and profit warnings that have dogged Siemens Gamesa in recent years.

On the financial side, the company has been buying back shares at a fast clip. Over the past week alone, Siemens Energy snapped up almost 700,000 shares on the open market, pushing the total since the programme’s launch in early June to roughly 933,000. Those repurchases cost around €142 million. The buying spree comes as the stock has pulled back sharply from its April peak of €195.54 — yesterday it closed at €153.94, a drop of about 21% from that high and now below its 50-day moving average. At last check on Wednesday, the share price had recovered to €157.04, up roughly 2% on the day.

Operationally, the picture remains bright. Siemens Energy reported a record order backlog of €154 billion in the second quarter and subsequently raised its full-year guidance. For fiscal 2026, management now forecasts revenue growth of up to 16% and a net profit of around €4 billion. The buybacks, say analysts, are a clear sign that executives believe in those numbers even if the market is currently sceptical.

Alongside the wind news, Siemens Energy is also pushing into higher-margin service businesses. It plans to fully acquire Northern Ireland-based Camlin Group, which employs about 650 people and posts annual sales of roughly €104 million. Camlin specialises in digital grid monitoring and data analytics — a growth area the company plans to run as a standalone unit while rolling out its technology across global power networks.

Investors will get more detail on Wednesday when Chief Financial Officer Maria Ferraro presents at the J.P. Morgan European Industrials Conference in London, followed by an appearance at the ODDO BHF London Forum one day later. The market will be listening for colour on third-quarter trends ahead of the official Q3 results, due on 5 August. The current consensus analyst price target stands at €186.30, implying upside of roughly 19% from today’s level. Since the start of the year, Siemens Energy shares have gained nearly 28%, though they remain about 20% below the April high.