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Press Release06 August 2026Siemens AGMunich
Record third quarter – Outlook raised
“We
delivered another very successful quarter with record orders and profit. By
executing our ONE Tech Company program, we’ve been accelerating our innovation,
which is enabling us to create additional value for our customers. Our
technological leadership in all businesses, clear focus on industrial AI, and
strong positioning in attractive markets are driving our profitable growth. We
have exactly the technologies our customers need to speed up their innovation,
increase their productivity and drive their digital transformation,” said
Roland Busch, President and Chief Executive Officer of Siemens AG. “We are on
track to complete another successful fiscal year, and we raise our outlook.”
“We
delivered excellent free cash flow of €4.1 billion in the third quarter,
which reflects our strong operational performance. For the full fiscal year, we
once again aim to achieve a double-digit free-cash-flow return on revenue.
We’re executing our strategy consistently, and our newly launched share-buyback
program continues to create value for our shareholders,” said Veronika Bienert,
Chief Financial Officer of Siemens AG. “As expected, we’ve now received binding
decisions from the tax authorities clarifying the relevant tax topics. As a
result, we can proceed with the spin-off of Siemens Healthineers as planned.”
Significant growth in all key figures
In
Q3 2026, Siemens increased orders 14 percent on a comparable basis –
that is, excluding currency translation and portfolio effects – to reach a
record high of €27.9 billion (Q3 2025: €24.7 billion), led by a sharp increase at Smart
Infrastructure and significant growth at Digital Industries. Revenue rose 8 percent
on a comparable basis to €20.8 billion (Q3 2025: €19.4 billion).
All industrial businesses delivered revenue growth, driven by significant
increases at Smart Infrastructure and Digital Industries. The book-to-bill
ratio was a very strong 1.34. The order backlog reached a new record high of
€132 billion at the end of Q3 2026.
Profit Industrial Business also reached a record high, with growth
driven by Digital Industries, where profit surged 25 percent to €3.5 billion
(Q3 2025: €2.8 billion). As a result, the profit margin of the
Industrial Business was 17.3 percent (Q3 2025: 14.9 percent).
Net income
climbed 15 percent to €2.6 billion (Q3 2025: €2.2 billion).
Consequently, basic earnings per share before purchase price allocation accounting
(EPS pre PPA) totaled €3.14 (Q3 2025: €2.78).
Free cash
flow all-in from continuing and discontinued operations rose sharply to €4.1 billion
(Q3 2025: €2.9 billion). This increase was driven primarily by free
cash flow of €4.2 billion at the Industrial Business due to improvements
at all industrial businesses.
In the first
nine months of fiscal 2026, Siemens’ digital business grew by 18 percent,
clearly exceeding the 15 percent target announced last November. During the
same period, Smart Infrastructure recorded triple-digit order growth in its
data center business, reaching around €6 billion.
Revenue growth at all industrial businesses
Digital Industries delivered clear increases in volume, profit and profitability, with volume
growth at both its automation and software businesses. Orders rose a
substantial 9 percent on a comparable basis to €4.9 billion (Q3 2025:
€4.4 billion). Revenue improved considerably, increasing 10 percent
on a comparable basis to €4.9 billion (Q3 2025: €4.4 billion), whereby
the software business grew 15 percent to €1.8 billion. Organic annual
recurring revenue (ARR) again grew a strong 11 percent and reached €5.7 billion.
Profit and profitability improved considerably. Profit soared 44 percent
to €923 million (Q3 2025: €642 million). Digital Industries’
profit margin totaled 18.7 percent (Q3 2025: 14.5 percent). Its
software business made the largest contribution to these improvements.
Smart Infrastructure continued
its highly profitable volume growth across all businesses and reporting regions.
Orders climbed 42 percent on a comparable basis to €8.0 billion (Q3 2025:
€5.7 billion) and once again reached a quarterly record high, driven
primarily by the electrification and electrical products businesses, which won
several large orders from data center customers in the U.S. and Europe. Revenue
grew 13 percent on a comparable basis to €6.4 billion (Q3 2025: €5.7 billion).
Smart Infrastructure increased profit to €1.3 billion and profitability to
20.0 percent with growth at all businesses. This increase was due
primarily to higher revenue, improved capacity utilization and ongoing
productivity measures.
At
Mobility,order intake – which included contract wins for double-deck trains in Switzerland
(worth €2.2 billion), for extended maintenance in the UK (worth €2.0 billion)
and for long-term service for battery-powered trains in Germany (worth €0.6
billion) – was again at a very high level, reaching €7.6 billion (Q3 2025:
€7.9 billion). Revenue rose 6 percent to €3.2 billion, driven
primarily by significant growth at the rail infrastructure business. Profit and
profitability were both at a solid level, totaling €280 million and 8.6 percent,
respectively.
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Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably. In fiscal 2025, which ended on September 30, 2025, the Siemens Group generated revenue of €78.9 billion and net income of €10.4 billion. As of September 30, 2025, the company employed around 318,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at
www.siemens.com.
Notes and forward-looking statements
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 (
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