- 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.
- 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].
- Generative
AI for industries: Siemens Industrial Copilot to be available on the Siemens Xcelerator Marketplace this summer
- Siemens and Schaeffler to sign memorandum of understanding to expand work to integrate Siemens Industrial Copilot into all areas of industry
- Live on stage: Siemens and NVIDIA show how they enable the industrial metaverse together
- World premiere of “Electrification X” for a wide range of IoT software-as-a-service offerings for transforming electrification infrastructure
- German Chancellor Olaf Scholz to be among high-ranking visitors at Hannover Messe’s largest booth
The industrial sector
is in need of digital transformation toward greater sustainability and resilience.
Value creation and actions for the planet must be brought into balance. Companies
need to do more with fewer resources. At Hannover Messe, Siemens will show how
proven, cutting-edge technology and strong partnerships enable industries to
become both more sustainable and more competitive. Visitors at Booth D53 in
Hall 9 will experience showcases featuring core technologies for digital and
sustainable transformation in the automotive, food, chemicals and
semiconductors industries.
- With key leadership decisions, Supervisory
Board demonstrates confidence in the strategy and trajectory of Siemens AG as a
leading technology company
- Announcement of five-year contract
extension for Roland Busch (59) as President and CEO, from April 1, 2025
- Intention confirmed to extend appointment
of Cedrik Neike (51), member of the Managing Board and CEO of Digital
Industries, for a further five years from June 1, 2025
The Supervisory Board of Siemens AG confirmed a five-year contract extension for President and Chief Executive
Officer Roland Busch from April 1, 2025. The move is a mark of support for the
strategy of Siemens as a leading technology company, with the current Managing
Board driving three years of record financial performance and the further
strategic development of the company.
- Expansion of existing partnership with transit
operator Metrolinx
- Increasing system availability and reliability for
Toronto’s passenger railway system
Siemens
Mobility has been chosen by Metrolinx, the regional public transit operator
for the Greater Toronto and Hamilton Area, to handle their track, signal, and right-of-way maintenance for the
Central Region of Toronto's passenger railway infrastructure system. This
partnership builds upon Siemens Mobility's existing maintenance services in the
West Region and signal and communications services at the Metrolinx Network
Operations Center.