Prolec GE Acquisition - GE Vernova is acquiring the remaining 50% stake of Prolec GE for $5275 billion [9], expecting $06 billion incremental EBITDA in 2026 on a full-year basis [9] - The purchase will be funded with approximately 50% debt and 50% cash on hand [9] - Prolec GE is expected to generate approximately $3 billion in revenue this year with approximately 25% adjusted EBITDA margin [19] - Cost synergies of approximately $60 million - $120 million are expected by 2028, with additional revenue synergies anticipated [32] Q3 2025 Financial Results - GE Vernova's orders increased by 55% to $146 billion in 3Q'25 [42] - Equipment backlog grew by $4 billion and service backlog grew by $2 billion sequentially [41] - Adjusted EBITDA margin expanded by 600bps to 81% in 3Q'25 [41, 42] - Free cash flow generated year-to-date reached $19 billion, exceeding the full-year 2024 figure [41] Segment Performance - Power segment orders increased by 50%, driven by higher volume and pricing, with 20 heavy-duty gas turbines secured [47] - Power segment revenue increased by 14%, driven by higher heavy-duty gas turbine equipment and services volume [47] - Electrification segment revenue increased by 32%, primarily driven by Grid Solutions [57] - Wind segment revenue decreased by (9)%, due to the absence of the 3Q'24 offshore project cancelation settlement [52] 2025 Financial Guidance - GE Vernova reaffirms its 2025 financial guidance [39] - Power segment expects organic revenue growth of 6% - 7% and a 14% - 15% segment EBITDA margin [47, 60] - Electrification segment expects organic revenue growth trending towards 25% and a 14% - 15% segment EBITDA margin [57, 60] - Wind segment expects organic revenue to be down high-single digits and approximately $400 million of segment EBITDA losses [52, 60]

Core Viewpoint - GE Vernova Inc. is acquiring the remaining 50% stake of Prolec GE from Xignux, enhancing its position in the global grid technology market and accelerating growth in its Electrification segment, which is the fastest-growing segment of the company [1][5][6]. Acquisition Details - The acquisition will be completed for a purchase price of $5.275 billion, funded equally through cash and debt [5][6][8]. - The deal is expected to close by mid-2026, pending regulatory approvals [6]. Financial Projections - Prolec GE is projected to generate $3 billion in revenue by 2025, with an adjusted EBITDA margin of approximately 25% [5][7]. - The incremental impact on GE Vernova's financials is expected to be $0.5 billion in adjusted EBITDA by 2025, increasing to $0.8 billion by 2028 [7]. Strategic Importance - This acquisition is seen as a strategic move to strengthen GE Vernova's capabilities in North America, where demand for grid technologies is rapidly increasing due to factors such as the growth of data centers and new electrification policies [1][4]. - Prolec GE, established in 1995, is a leading supplier of grid equipment with around 10,000 employees and multiple manufacturing sites, including five in the U.S. [3][5]. Market Context - The acquisition aligns with the growing electricity demand driven by various market trends, positioning GE Vernova to better serve both North American and global customers [1][4].

Market Overview - The three major indices experienced a collective decline in early trading, with the Shanghai Composite Index down by 0.51%, the Shenzhen Component Index down by 1.85%, and the ChiNext Index down by 3.4% [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 165.61 billion yuan, a decrease of 70.8 billion yuan compared to the previous day [1] - Over 2,300 stocks in the market saw declines [1] Sector Performance - The gas, textile manufacturing, electric grid equipment, coal, cement, and dairy sectors showed the highest gains [1] - Conversely, sectors such as precious metals, semiconductors, solid-state batteries, photovoltaic equipment, and computing hardware experienced significant declines [1] Semiconductor Sector - The semiconductor sector faced substantial adjustments, with stocks like Dongxin Co., Huahong Semiconductor, and Jinghe Integrated falling over 10% [1] - Other notable declines included Baiwei Storage, SMIC, and Chipone [1] Battery Sector - The battery sector also saw a pullback, with stocks such as Liyuanheng and Yinghe Technology dropping over 10% during trading [1] - Other companies like Yiwei Lithium Energy, Tianji Co., and Honggong Technology followed suit with declines [1] Gold Sector - Following a surge in gold stocks the previous day, most experienced a pullback today, with Western Gold, Xiaocheng Technology, and Chifeng Gold leading the declines [1] Gas and Electric Grid Equipment Sectors - The gas sector collectively rose, with Dazhong Public Utilities and Hongtong Gas both hitting the daily limit [1] - The electric grid equipment sector also saw gains, with New Special Electric hitting the daily limit, alongside Guodian Nanzi, Sifang Co., and Shenneng Power [1] Other Active Sectors - The cement, coal, oil and gas, and dairy sectors showed active performance during the trading session [1]

Siemens Energy AG expects to reach the upper end of its full-year guidance on the back of surging orders for its gas turbines and grid equipment https://t.co/xb4yRba0Kk ...