- Revenue rose 8% compared to Q3 FY 2016, to €21.4 billion, including a strong performance by short-cycle businesses
- Orders came in 6% lower, at €19.8 billion, due to sharply lower volume from large orders at Power and Gas and at Siemens Gamesa Renewable Energy, the business resulting from the merger of Siemens' wind power business with Gamesa Corporación Tecnológica S.A. (Gamesa) beginning with Q3 FY 2017; the book-to-bill ratio for Siemens overall was 0.93
- On a comparable basis, excluding currency translation and portfolio effects, revenue rose 3% and orders were 9% lower
- Profit Industrial Business rose 3% to €2.3 billion; as expected, negative merger and acquisition effects related to Gamesa and Mentor Graphics Corporation (Mentor Graphics) reduced Industrial Business profit margin to 10.4%
- Net income rose 7%, to €1.5 billion; basic earnings per share (EPS) of €1.74, up from €1.64 in Q3 FY 2016 despite negative merger and acquisition effects
"Our global team delivered a solid quarter with revenue up 8% and net income growing by 7%. Our digital enterprise business impressively underscored its leading position in the market. We are fully on track with Vision 2020 and for another strong year."
- Revenue rose 6% compared to Q2 FY 2016, to €20.2 billion, including a strong performance by short-cycle businesses, and orders were €22.6 billion, up 2% despite a high basis of comparison including orders totaling €3.1 billion in Q2 FY 2016 in Egypt; the book-to-bill ratio was 1.12
- On a comparable basis, excluding currency translation and portfolio effects, revenue rose 5% and orders increased 1%
- Strong margin expansion in nearly all industrial businesses due to strong operational execution, and a €138 million positive effect from pension plan amendments, took Industrial Business profit margin up to 12.1%
- Industrial Business profit climbed 18% year-over-year, to €2.5 billion
- Net income was level at €1.5 billion, despite a higher income tax rate and a lower contribution to net income from discontinued operations; basic earnings per share (EPS) of €1.79 compared to €1.78 in Q2 FY 2016
- At the end of Q2 FY 2017, Siemens acquired all shares of Mentor Graphics Corporation (Mentor Graphics) and, at the beginning of Q3 FY 2017, closed the merger of Siemens' wind power business with Gamesa Corporación Tecnológica S.A. (Gamesa)
"We delivered another strong team performance and continue to outperform the markets. In the second half of the fiscal year, we will focus on duly integrating Mentor Graphics and on a successful start of Siemens Gamesa Renewable Energy, while keeping a close eye on our operational performance. And there is more work to do."
- Randy Zwirn to retire
- Tim Holt to take on new CEO role as of October 1, 2016
Effective October 1, 2016, Tim Oliver Holt (46), who is currently CEO of the Power and Gas Business Unit within the Power Generation Services Division, has been appointed CEO of the Power Generation Services Division. Holt's replacement in his Business Unit assignment will be the subject of a future announcement. The Division's current CEO, Randy Zwirn (62), is retiring on October 1, 2016.
- Large orders in Europe and the Americas drive third-quarter orders up 6% year-over-year, to €21.1 billion; revenue 5% higher at €19.8 billion, for a book-to-bill ratio of 1.06
- Excluding currency translation effects, orders rose 10% and revenue was 9% higher
- Industrial Business profit climbs 20% year-over-year, to €2.2 billion; significant margin expansion takes Industrial Business profit margin up to 10.8%
- Net income of €1.4 billion, level with the prior-year quarter which benefited from favorable interest rates within continuing operations and positive tax effects within discontinued operations; basic earnings per share (EPS) of €1.64 compared to €1.65 in Q3 FY 2015
"We are making good progress with execution of Vision 2020 and in the third quarter again achieved convincing results, particularly compared to the market. I am proud of my global team which delivered excellent performance, especially with regard to growth, in an increasingly difficult market environment."
- Major contract wins in Europe and Africa drive first-quarter orders up 27% year-over-year, at €22.8 billion; revenue 8% higher at €18.9 billion, for a book-to-bill ratio of 1.21
- Excluding currency translation effects, orders 22% higher and revenue up 4%
- Industrial Business profit climbs 10% year-over-year, to €2.0 billion, including margin expansion; strong increases in Healthcare, Energy Management and Mobility more than offset declines in Digital Factory, Process Industries and Drives and Wind Power and Renewables
- Net income of €1.6 billion, up 42% from the prior-year quarter which was burdened by factors outside the Industrial Business; basic earnings per share (EPS) of €1.89 compared to €1.30 in Q1 FY 2015
- We raise our previous expectation for basic EPS from net income in the range of €5.90 to €6.20 to the range of €6.00 to €6.40
"We delivered a strong quarter and are well underway in executing our Vision 2020. Therefore, we will raise our earnings outlook for 2016, even though the macroeconomic and geopolitical developments remain a concern for our markets. We continue to focus on addressing our structural challenges in the company and invest into further developing our markets and strengthening our innovation power."
- Third-quarter orders up 4% year-over-year, at €19.9 billion, including a €1.6 billion order in Mobility; excluding currency translation and portfolio effects, orders down 5%
- Revenue 8% higher at €18.8 billion, for a book-to-bill ratio of 1.05; revenue 3% lower on a comparable basis
- Industrial Business profit level, at €1.8 billion; strong improvements in Energy Management and Healthcare largely offset by a decline in Power and Gas
- Net income at €1.4 billion; basic earnings per share (EPS) increased to €1.65, up from €1.62 in Q3 FY 2014
- At the end of the quarter, the Power and Gas Division closed its acquisition of Dresser-Rand, substantially expanding its offerings for the oil and gas industry and distributed power generation
"Overall our businesses delivered solid underlying profitability despite a softening market environment. We expect to maintain our momentum with a strong closing quarter for fiscal 2015."
- Second-quarter orders up 16%, to €20.8 billion, including large orders in the rail business; on a comparable basis, excluding currency translation and portfolio effects, orders up 7%
- Revenue 8% higher at €18.0 billion, for a book-to-bill ratio of 1.15; revenue flat on a comparable basis
- Industrial Business profit 5% lower, at €1.7 billion, due largely to Power and Gas as expected
- Net income of €3.9 billion, including €1.6 billion, €1.4 billion and €0.2 billion, respectively, on the sale of the hearing aid business, Siemens' stake in BSH Bosch und Siemens Hausgeräte GmbH (BSH) and the hospital information business; resulting in basic earnings per share (EPS) of €4.70
"For business volume, we performed well in our markets. The profitability of our Industrial Business shows that we must still improve some businesses."
- First-quarter revenue up 5% to €17.415 billion; on a comparable basis, excluding currency translation and portfolio effects, revenue up 3%
- Orders of €18.013 billion for a book-to-bill ratio of 1.03; 11% decline compared to Q1 FY 2014, which included a €1.6 billion order in Saudi Arabia
- Industrial Business profit of €1.819 billion 4% lower due mainly to Power and Gas as expected; Industrial Business profit margin within the expected range
- Income from continuing operations of €1.106 billion burdened outside the Industrial Business; furthermore negative swing within discontinued operations affects Net income which was €1.095 billion, with basic earnings per share (EPS) of €1.30
- Strong contribution to Free cash flow from Industrial Business
- During the first quarter, Siemens classified the hearing aid business as discontinued operations; prior-period results are presented on a comparable basis
- Portfolio milestones include closing the acquisition of the Rolls-Royce Energy aero-derivative gas turbine and compressor business in the first quarter; followed, in January 2015, by closing the divestment of the hearing aid business (expected pretax gain: approximately €1.6 billion), closing the divestment of Siemens' stake in BSH Bosch und Siemens Hausgeräte GmbH (BSH) (expected pretax gain: approximately €1.4 billion), and completing the contribution of the metals technologies business into a joint venture; furthermore, we expect a profit impact due to a funding commitment of €0.3 billion related to Unify Holdings B.V. in the second quarter
"The performance of most of our businesses was within our expectations. While some Divisions provided excellent performance, Healthcare needs to step up its efforts to quickly resume to its outstanding performance and Power and Gas will need a more comprehensive concept to return to historical margins longer turn."