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• Revenue rose 5 percent year-over-year on a comparable basis to €18.9 billion (Q3 2023: €18.1 billion)
• Orders in Q3 2024 reached €19.8 billion (Q3 2023: €23.5 billion), down 15 percent on a comparable basis vis-à-vis a very strong Q3 2023
• Profit Industrial Business increased 11 percent to €3.0 billion (Q3 2023: €2.7 billion)
• Net income climbed 48 percent to €2.1 billion (Q3 2023: €1.4 billion)
• Free cash flow all-in at Group level totaled €2.1 billion (Q3 2023: €3.0 billion)
• Outlook confirmed

Siemens continued its profitable growth trajectory again in the third quarter. Overall, the company clearly increased its net income and profit margin and thus demonstrated its financial strength once again. With a sustained large order backlog, which totaled €113 billion in Q3, and a book-to-bill ratio greater than 1, Siemens is optimally equipped for the future.

• Third-quarter revenue rose 5% on a comparable basis, excluding currency translation and portfolio effects; comparable orders came in 15% lower than in Q3 FY 2023, which included a record-high level of orders in Mobility
• On a nominal basis, revenue increased 4% to €18.9 billion; orders were down 16% at €19.8 billion but exceeded revenue for a book-tobill ratio of 1.05, and the order backlog remained on a high level at €113 billion
• Profit Industrial Business rose 11% to €3.0 billion, and the profit margin reached 16.5%, well above the prior-year quarter
• Net income was €2.1 billion, with corresponding basic earnings per share (EPS) of €2.51 and EPS before purchase price allocation accounting (EPS pre PPA) of €2.66

• The Supervisory Board of Siemens AG announced the expansion of the Managing Board
• Five-year contract extension of Cedrik Neike (51), member of the Managing Board of Siemens AG and CEO of Digital Industries, from June 1, 2025
• Peter Koerte (48) appointed member of the Managing Board of Siemens AG and Chief Technology and Chief Strategy Officer with responsibility for Siemens Xcelerator and Siemens Advanta, effective October 1, 2024
• Veronika Bienert (51) appointed member of the Managing Board of Siemens AG and CEO Siemens Financial Services with responsibility for the service portfolio of Siemens Real Estate and Global Business Services, effective October 1, 2024
• Proposal to extend Jim Hagemann Snabe’s role as Chairman of the Supervisory Board of Siemens AG for two years, from February 2025

The Supervisory Board of Siemens AG today announced leadership appointments to build on the company’s position of strength and accelerate value creation as a leading technology company. The current Managing Board has led the company through three record years of financial performance and strategic developments to accelerate the digital and sustainability transformations of its customers.

• Annette Kraus to take the role of Executive Vice President Social and Industrial Relations and People & Organization (P&O) Germany
• Hanno Kunkel succeeds Annette Kraus as Chief Compliance Officer, Head of the Compliance organization and Human Rights Officer

Annette Kraus (48) will take over an expanded role within the People & Organization leadership team. Effective October 1, 2024, she will assume the role of Executive Vice President Social and Industrial Relations and People & Organization Germany, moving on from her role as Chief Compliance Officer for Siemens AG.

• Stadtwerke Stuttgart headquarters serves as lighthouse project for state-of-the-art building and energy management systems
• Represents optimal ‘sector coupling’ showcase, using Siemens Xcelerator applications to intelligently connect buildings and transport to renewable energy sources
• Supports Stuttgart in achieving climate neutral targets, setting example to other cities worldwide in sustainable urban transformation

Siemens Smart Infrastructure and publicly owned energy supplier Stadtwerke Stuttgart GmbH, have announced their partnership to help drive the transition to sustainable urban energy across the city. 

• Siemens’ open and interoperable Electrification X portfolio complemented with asset and service lifecycle management software from IFS
• Powerful Software-as-a-Service (SaaS) solution ensures uptime of critical electrical substation assets and offers last mile transparency, optimization, and automation of critical network operational activities

Siemens Smart Infrastructure has expanded its Siemens Xcelerator partner ecosystem with the addition of the AI-driven field service and asset management suite from IFS, the world’s leading provider of industrial AI and enterprise software for companies that manage complex assets, operations, and service focused activities.

• Use in Salzburg Festival’s Großes Festspielhaus to be first-time application
• Digital twin to enable audio-visual experience of digital event spaces
• Software to simulate acoustics, orchestral formations and concert hall configurations

Siemens has developed a digital twin especially for large event spaces. The technology makes it possible to realistically reproduce and simulate very precisely a building’s acoustics and structure. The Sound of Science application will be used for the first time in the Großes Festspielhaus – the Large Festival Hall – at the Salzburg Festival. Sound of Science will enable event organizers to virtually explore how acoustics change in different spatial configurations – for example, how adding acoustic panels affects the listening experience – in order to select the optimal acoustic scenario. Orchestral formations on the stage can also be tested and arranged in advance – before a single note is heard in the real world. This approach saves money, resources and time.

• Located in Chennai, the new facility reflects Siemens commitment to support the growing Data Center market in Asia Pacific
• Will unite 200+ designers, planners, engineers and project managers in one location, facilitating greater innovation in scalable and modular Data Center solutions
• Complements two existing Siemens Centers of Competence for Data Centers in The Hague, Netherlands and in North Carolina, US

Siemens today inaugurated a new Center of Competence for Data Centers at the Global Infocity Park in Chennai, India.