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Press Release13 November 2025Siemens AGMunich
Earnings Release and Financial Results Q4 FY 2025: Record results for fiscal 2025
Fiscal 2025 was a milestone for Siemens: For the third consecutive year, we achieved a record in net income, with growth in orders and revenue at a mid-single-digit rate. With our ONE Tech Company program, we are laying the foundation for even stronger customer focus, faster innovations and higher profitable growth. Through our acquisition of Altair and Dotmatics, we are expanding our leadership in software and artificial intelligence. At the same time, with the planned deconsolidation of Siemens Healthineers, we are entering the next stage of growth by elevating a highly synergistic core portfolio to a new level.
Roland Busch, President and Chief Executive Officer of Siemens AG
Since cash generation is the ultimate yardstick for business performance, I’m extremely pleased that our fourth-quarter and fiscal- 2025 results broke records for Free cash flow. Profitable growth and stringent portfolio management form the basis of our success. Our shareholders benefit directly from an increased dividend proposal and a successful, accelerated share-buyback program. We enter fiscal 2026 strengthened with an ambitious outlook.
Ralf P. Thomas, Chief Financial Officer of Siemens AG
Please read the complete Earnings Release and Financial Results:
Earnings Release Q4 FY 2025, July 1 to September 30, 2025: Record results for fiscal 2025Outlook
For fiscal 2026, we assume that the global economic environment will stabilize and that global GDP growth will remain near the prior-year level.
We also anticipate that in fiscal 2026 negative currency effects will strongly burden nominal growth rates in volume as well as profit for our industrial businesses and earnings per share (EPS).
For fiscal 2026, Digital Industries expects comparable revenue growth − net of currency translation and portfolio effects − of 5% to 10% and a profit margin of 15% to 19%.
Smart Infrastructure expects for fiscal 2026 comparable revenue growth of 6% to 9% and a profit margin of 18% to 19%.
Mobility expects for fiscal 2026 comparable revenue growth of 8% to 10% and a profit margin of 8% to 10%.
For the Siemens Group, we expect comparable revenue growth in the range of 6% to 8% and a book-to-bill ratio above 1 for fiscal 2026.
Based on the expected profitable growth of our industrial businesses and substantial burdens from currency effects, we anticipate basic EPS from net income before purchase price allocation accounting (EPS pre PPA) in a range of €10.40 to €11.00 in fiscal 2026.
This outlook excludes burdens from legal and regulatory matters.
Press Event
@siemens_press
Notes and forward-looking statements
Starting today at 08:30 a.m. CET, the “Siemens ONE Tech – Strategy and Results” event will be broadcast live at www.siemens.com/one-tech-strategy-and-results-2025. It will cover Siemens’ fourth-quarter results, the preliminary figures for fiscal 2025, and the outlook for fiscal 2026. Furthermore, it will include an update on our Siemens ONE Tech strategy as well as our technology and innovation agenda. Recordings of the event will be made available afterwards.
The financial publications can be downloaded at: www.siemens.com/ir.
This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Combined Management Report of the Siemens Report (siemens.com/siemensreport), and in the Interim Group Management Report of the Half-year Financial Report (provided that it is already available for the current reporting year), which should be read in conjunction with the Combined Management Report. Should one or more of these risks or uncertainties materialize, should decrees, decisions, assessments or requirements of regulatory or governmental authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
All information is preliminary.
Starting today at 08:30 a.m. CET, the “Siemens ONE Tech – Strategy and Results” event will be broadcast live at www.siemens.com/one-tech-strategy-and-results-2025. It will cover Siemens’ fourth-quarter results, the preliminary figures for fiscal 2025, and the outlook for fiscal 2026. Furthermore, it will include an update on our Siemens ONE Tech strategy as well as our technology and innovation agenda. Recordings of the event will be made available afterwards.
The financial publications can be downloaded at: www.siemens.com/ir.
This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Combined Management Report of the Siemens Report (siemens.com/siemensreport), and in the Interim Group Management Report of the Half-year Financial Report (provided that it is already available for the current reporting year), which should be read in conjunction with the Combined Management Report. Should one or more of these risks or uncertainties materialize, should decrees, decisions, assessments or requirements of regulatory or governmental authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
All information is preliminary.