Siemens Energy Sees Profit Boost From Rising Grid, Turbine Sales

Siemens Energy AG shares jumped the most in five months after the company substantially raised its sales and profit outlook for the year on growing demand for gas turbines and grid technologies.

The German manufacturer expects net income to reach as much as €1 billion ($1.1 billion) this fiscal year through September, up from a previous estimate that it would stay around break-even. Comparable revenue could grow as much as 15%.