14/11/2024, 3:20:05 pm

Siemens sees data center boom offsetting automation slump

Siemens AG expects solid revenue growth in the coming year as the boom in power hungry data centers drives demand for the company’s transformers and grid technology. Comparable revenue is expected to rise as much as 7% in the fiscal year through September, the company said Thursday. Revenues increased 3% in fiscal 2024, while net income reached a record €9 billion ($9.5 billion).