# Siemens Energy raises free cash flow outlook after solid Q3
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-08-07
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Siemens Energy Raises Free Cash Flow Outlook Amid Strong Demand
Meta Description: Siemens Energy raised its free cash flow outlook, citing strong demand for power grid technology and gas turbines. CEO Christian Bruch is optimistic about the company's growth.
URL: https://startupobserver.com/siemens-energy-raises-free-cash-flow-outlook-after-solid-q3/

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FRANKFURT (Reuters) -Siemens Energy on Wednesday raised its free [cash](https://startupobserver.com/arrival-nikola-signal-more-pain-for-ev-startups/) flow outlook for the second time in three months, citing stronger demand for its power grid technology and gas turbines that helped it report higher-than-expected quarterly revenues.

The company, which provides equipment and services to the utility sector, is recovering from a crisis at its wind turbine division that caused it to seek help from the German government last year in the form of project guarantees.

“The rapidly growing electricity market requires a wide range of our products. Especially our grid and gas turbine businesses are benefiting from this momentum,” CEO Christian Bruch said in a statement.

The company said it now expects [free](https://startupobserver.com/britain-extends-tariff-free-trade-with-ukraine-to-2029/) cash flow before tax of 1.0 [billion](https://startupobserver.com/munich-re-q1-net-profit-up-68-in-line-with-preliminary-figures/) to 1.5 billion [euros](https://startupobserver.com/brembo-q1-operating-profit-rises-on-record-sales/) ($1.1-$1.6 [billion)](https://startupobserver.com/munich-re-q1-net-profit-up-68-in-line-with-preliminary-figures/) in 2024, having previously forecast up to 1.0 billion.

Third-quarter sales rose 18.5% to 8.8 [billion](https://startupobserver.com/munich-re-q1-net-profit-up-68-in-line-with-preliminary-figures/) [euros](https://startupobserver.com/italian-hearing-aid-maker-amplifon-expects-higher-2023-earnings/), beating the 8.6 billion LSEG analyst consensus.

($1 = 0.9164 [euros)](https://startupobserver.com/brembo-q1-operating-profit-rises-on-record-sales/)

(Reporting by Christoph Steitz; Editing by Marguerita Choy and Ludwig Burger)


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