The energy company logged a new record for its order book as strong demand for energy grids and gas turbines helped it post a narrower-than-expected fourth-quarter loss.

SIEMENS Energy raised its mid-term targets after demand for its grid technologies helped offset losses at its beleaguered wind-turbine division. Read more at The Business Times.

Siemens Energy AG’s shares surged the most on record after the company lifted its midterm targets, citing growing demand for its grid technologies that offset losses at its beleaguered wind-turbine division.

Siemens Energy on Tuesday raised its mid-term outlook as it reported a new record for its order book and a narrower fourth-quarter loss, benefiting from rising demand and an ongoing turnaround at its struggling wind turbine unit.