- At €19.2 billion on a comparable basis, revenue was nearly unchanged year-over-year (Q2 2023: €19.4 billion)
- Orders in Q2 2024 reached €20.5 billion (Q2 2023: €23.6 billion), a decline of 12 percent on a comparable basis
- At €2.5 billion, Profit Industrial Business was close to the prior-year level (Q2 2023: €2.6 billion)
- Net income totaled €2.2 billion (Q2 2023: €3.6 billion); net income in Q2 2023 benefited from a tax-free gain of €1.6 billion from the partial reversal of an impairment of Siemens’ stake in Siemens Energy AG
- Free cash flow all-in at Group level was €1.3 billion (Q2 2023: €2.3 billion)
- Outlook at Group level confirmed
Siemens delivered solid performance in the second quarter, successfully meeting the high demand for digitalization and sustainability technology. Notably, the industrial software business showed strong growth with particularly high demand in the semiconductor industry. Demand from customers for the construction of data centers also showed strong momentum. Currently muted demand in the short-cycle automation business at Digital Industries, particularly in China and Europe, was largely offset by strong revenue development at Smart Infrastructure and Mobility. In addition, Siemens took a key step in focusing its portfolio with the sale of Innomotics to KPS Capital Partners for €3.5 billion.
- Innomotics to be sold to KPS Capital Partners
for €3.5 billion
- Innomotics is a global leader in electrical motor and large-drive
business with €3.3 billion in revenue and employs approximately
15,000 people
- Future setup offers the Innomotics business the
best framework conditions for sustainable and growth-oriented development
- Transaction expected to close in first half of
fiscal 2025
- Another step for Siemens in focusing its
portfolio
The Managing Board and
Supervisory Board of Siemens AG have approved the sale of Innomotics – a
world-leading electric motors and large drives company – to KPS Capital
Partners, LP (“KPS”). The contracting parties have signed a corresponding
agreement. The purchase price (enterprise value) is €3.5 billion. The sale to
KPS is expected to close in the first half of fiscal 2025 and is subject to customary
foreign-investment and merger control approvals.
- Siemens and Foxconn sign memorandum of understanding (MoU) highlighting joint commitment to sustainability
- Cooperation to define standards for the factory of the future and manufacturing processes
- Innovations to positively impact information and communications technology and electric vehicle production ecosystems
- Siemens Xcelerator portfolio to optimize Foxconn's operations for efficiency and agility
Siemens AG, a leading
technology company, and Hon Hai Technology Group (Foxconn), the
world's largest electronics manufacturer, have signed a memorandum of
understanding (MoU) to drive digital transformation and sustainability in smart
manufacturing platforms.
- Depot to be expanded to 87,550 m²
- New capacity for meeting growing demand
- 100% system availability thanks to digitalized depot operation
- Creation of attractive jobs in the region
- Up to 250 employees at the location in 2026
Siemens Mobility is investing approximately €150 million to expand its service depot in
Dortmund-Eving to 87,550 m² to meet the growing demand for rail services.
Plans call for constructing an additional 12,300 m² service hall
with storage facility, offices, and workshops to handle the maintenance of
trains up to 400 meters long. Construction
of the new building is scheduled to begin in 2024 and be completed by 2026. The
Siemens Mobility depot in Dortmund previously had a total area of
70,000 m² and will cover 157,550 m² when the project is
completed.
- Solar farm is part of a £1.5 million research project funded through UK Research Partnership Investment Fund
- Project in partnership with Siemens aimed at enhancing the University’s research capabilities in developing and testing robots and other autonomous systems for the inspection and maintenance of solar arrays
- Enables the University’s new Institute for Safe Autonomy to become net zero by 2025
Siemens has completed work on a 200kWp solar
farm for the University of York located at the University’s new Institute for
Safe Autonomy, as part of £1.5 million research project.
- First cross-country project in the Middle East and Arab World connecting
the Emirati capital Abu Dhabi in the United Arab Emirates to Sohar in the
Sultanate of Oman; length of 303km
- The Oman section of the network marks the first railway system to be
delivered in history of the Sultanate of Oman
Siemens Mobility, together with its consortium partner Hassan Allam Construction, is
honored to announce that it has been awarded the Abu Dhabi – Sohar Design and
Build Railway Systems and Integration contract by Oman – Etihad Rail, a joint
venture co-owned by the two countries to deliver this network. Siemens Mobility and
Hassan Allam Construction will deliver the design, build and integration of the ETCS
Level 2 signaling, telecom and power supply systems over the 303-kilometer-long
Abu Dhabi – Sohar railway link. The signaling solutions are state-of-the art and
desert-proof. This project marks the first-ever cross-country railway network in the
Middle East and Arab world.
- Migration
to the highest grade of automation (GoA4)
- Delivery
of onboard equipment for 226 new trains
- Project
will be commissioned in five phases; fully automated by 2033
- Total
order volume of approximately 270m Euros
Siemens Mobility will upgrade the entire 170 kilometers long S-bane
network in Copenhagen to the highest grade of automation (GoA4 technology) to
enable unattended train operations starting with the first phase in 2030. Respective
contracts have been signed with Banedanmark (BDK) and
DSB recently including the necessary signaling equipment for trains and
wayside. GoA4 will allow the operator to run more trains in the entire system, enhance
the level of passenger experience, secure the current punctuality rate and will
future-proof the network. The new contracts have a total volume of about 270m
Euros and build on the original contract from 2011 to equip the Copenhagen
S-train network with the Communications-Based Train Control System [CBTC].
- The new Depot360 portfolio, part of Siemens Xcelerator, reduces the complexity
of fleet electrification by offering a data-driven, performance-oriented, end-toend
solution
- Through the collaboration with partners, Siemens’ service ranges from
consultation and financing to depot design, construction, commissioning, and
ongoing management
- Siemens will support customers throughout the entire fleet electrification and
transportation management journey and thereby help them with their
sustainability targets
- Comprehensive, integrated, and charger agnostic, Depot360 requires no
CAPEX, offers maximum scalability, improved operations, and reduced energy
costs
With global transportation the second biggest emitter of greenhouse gases and road transport responsible for almost three quarters of these emissions¹, Siemens Smart Infrastructure has launched Depot360, a portfolio that goes beyond installation and servicing of electrical and charging infrastructure to cover the entire fleet electrification journey. Providing access to green energy at the lowest possible cost, Depot360 is set to accelerate customers toward their sustainability goals.
- Siemens Smart Infrastructure has introduced Electrification X to transform ageing electrification infrastructure. This latest addition to the Siemens Xcelerator portfolio builds upon the success of Building X and Gridscale X
- Electrification X is a continuously growing dynamic, open and interoperable portfolio, facilitating the seamless digital transformation of electrification infrastructure across commercial, industrial, and utility applications
- By leveraging Electrification X, customers gain access to a range of IoT SaaS offerings and software solutions for enhancing energy efficiency, enabling e-mobility, and optimizing industrial energy systems
Siemens
Smart Infrastructure has launchedElectrification X,
a highly scalable Internet-of-Things (IoT) SaaS offering to transform electrification infrastructure.