FRANKFURT, April 16 (Reuters) – Siemens Energy on Wednesday raised its outlook for the current fiscal year, citing a strong performance in all of its business areas which provide equipment and services to the global power industry.

The group said it now expects a profit margin before special items of 4-6% in 2025, up from 3-5% previously, while sales are expected to rise by 13-15%, up from 8-10%. Free cash flow pre-tax is seen at around 4 billion euros ($4.55 billion).

Citing a “positive business development” without providing more context, Siemens Energy’s second-quarter profit before special items increased more than five-fold to 906 million euros, making for a margin of 9.1%, beating the 6.2% consensus.

The company, which makes and services gas and wind turbines, power grid infrastructure and electrolysers among other equipment, is benefiting from surging global demand for power, a trend partly driven by data centres needed for AI technology.

Frankfurt-listed shares in the company, which is scheduled to release final second quarter results on May 8, were 2.6% higher following the news.