FRANKFURT (dpa-AFX) - After raising its earnings forecast, Siemens has overtaken SAP as the most valuable company in the DAX, thanks to a sharp rise in its share price. The Munich-based group's shares climbed more than 6 percent to a record high of €273.30. Meanwhile, shares of the Walldorf-based software giant, which have recently been battered by concerns over artificial intelligence, remained flat. SAP's market capitalization now stands at around €210 billion, while Siemens surged ahead to over €217 billion.
One expert described it as a strong start to the business year with a healthy order backlog. The key profit metric for Siemens – earnings per share before certain purchase price effects – is now expected to rise to between €10.70 and €11.10 in 2025/26. Previously, Siemens had forecast a range of €10.40 to €11.
The earnings consensus for the full year is now likely to increase by a low single-digit percentage, commented Daniela Costa of Goldman Sachs.
Siemens shares have already risen by over 14 percent in 2026. In contrast, SAP is down 19 percent. Since peaking a year ago, SAP shares have lost more than a third of their value./ag/mis
Siemens AG is one of the world's leading manufacturers of electronic and electro-technical equipments. Net sales break down by family of products as follows:
- medical equipment (29.6%): medical imaging systems, laboratory diagnostics and hearing aid systems, etc.;
- smart building and infrastructure solutions (28.7%): energy transition solutions, HVAC products (heating, ventilation and air conditioning systems), building security systems (fire detection and protection systems, access control, video surveillance and intrusion detection systems, etc.), building management systems, etc.;
- digital industrial equipment (22.1%): automated production, assembly, logistics and monitoring systems, etc.;
- mobility solutions and systems (15.8%): rail vehicles, rail automation systems, rail electrification systems, digital and cloud-based solutions, etc.
The remaining net sales (3.8%) are primarily from financial activities (leasing, equipment and project financing, financial consulting services, etc.).
Net sales are distributed geographically as follows: Germany (14.8%), Europe/Commonwealth of Independent States/Africa/Middle East (32%), the United States (28%), America (4.6%), China (9.1%), Asia and Australia (11.5%).
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