Siemens Energy Sends CFO to London as Buyback Program Accelerates

Siemens Energy shares up 76% YTD yet 20% below high. CFO promotes margin, cash flow, wind progress as €1bn buyback accelerates. Strong fundamentals underpin confidence.

Siemens Energy’s stock has climbed roughly 76% since the start of the year, but the shares still sit more than 20% below their 52-week high of €195.54. Against that backdrop, the company is leaning on two levers: a fast-moving share buyback and a direct investor charm offensive in the City of London.

On Wednesday, Chief Financial Officer Maria Ferraro took the stage at the J.P. Morgan European Industrials Conference to meet institutional investors. No new megadeal was announced. Instead, the agenda revolved around margin expansion, cash flow generation, and the progress being made in the troubled wind energy division. The appearance follows a strong first half and a string of upward revisions.

Buyback Ramps Up After Slow Start

The €1bn share repurchase programme, launched on 4 June, has already picked up noticeable momentum. In the second week alone, from 8 to 14 June, Siemens Energy scooped up 696,530 of its own shares — a sharp acceleration from the initial days. Total purchases since inception now stand at 933,570 shares.

The buying was spread across five trading sessions, with the heaviest activity on 10 and 11 June, when roughly 155,000 shares were snapped up each day at prices of €145 and €144 respectively. On the remaining three days, daily volumes ranged from 127,000 to 131,000 shares at prices between €151 and €158. Execution took place on Xetra as well as via CBOE DXE, Aquis Exchange Europe and Turquoise Europe.

The programme runs until 30 September 2026 at the latest, with a ceiling of 57 million shares. The company plans to use the repurchased equity for employee compensation or to cancel it.

Robust Fundamentals Underpin the Confidence

The buyback is being funded from a position of operational strength. In the second fiscal quarter, Siemens Energy posted an order intake of €17.7bn, a book-to-bill ratio of 1.72, and an order backlog of €154bn. For the full fiscal year 2026, management guides for revenue growth of 14% to 16%, an adjusted operating margin of 10% to 12%, and free cash flow before taxes of roughly €8bn.

Those ambitious targets were at the heart of Ferraro’s London discussions. The company raised its outlook in May, and investors are looking for reassurance that the numbers are achievable — especially after the stock has already run up so far this year.

Conference Season Continues

Ferraro’s calendar remains packed. Thursday sees the ODDO BHF London Forum, followed by a pre-close call on 29 June. After that, the quiet period ahead of third-quarter results begins. The official numbers are due on 5 August.

Despite the recent strength, the stock still has room to recover from a technical perspective. At €155.62, it trades about 8% below its 50-day moving average of €168.88. The trailing 12-month return stands at roughly 27% — solid, but a far cry from the breakneck year?to?date gain of 76%.

The buyback programme and the CFO’s road show are designed to keep the momentum alive, even as the shares work their way back toward that 52-week high.