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• Orders in Q1 2024 reached €22.3 billion (Q1 2023: €22.6 billion); an increase of 2 percent on a comparable basis
• Revenue rose 6 percent on a comparable basis to €18.4 billion (Q1 2023: €18.1 billion)
• Profit Industrial Business totaled €2.7 billion (Q1 2023: €2.7 billion); profit margin Industrial Business increased to 15.8 percent (Q1 2023: 15.7 percent)
• Free cash flow at Group level rose sharply year-over-year to €1.0 billion (Q1 2023: €0.1 billion)
• Net income climbed 56 percent to €2.5 billion (Q1 2023: €1.6 billion)
• Outlook for fiscal 2024 confirmed
• Virtual Annual Shareholders’ Meeting to vote on dividend proposal of €4.70 per share for fiscal 2023 (fiscal 2022: €4.25)

Siemens made a successful start to fiscal 2024 with a strong performance in the first quarter (ended December 31, 2023). At €2.7 billion, Profit Industrial Business increased at nearly all industrial businesses to reach a record high for the first quarter of a fiscal year. On this basis, Siemens confirms its outlook for the current fiscal year 2024. As announced in November 2023, the company is also initiating a new share buyback program in the near term with a volume of up to €6 billion over a period of up to five years. 

• Progressive dividend policy with €0.45 increase over prior year
• High approval rates for all agenda items 

At the Siemens AG Annual Shareholders’ Meeting that was held today, the shareholders decided by a large majority of 99.91 percent to approve the Managing and Supervisory Boards’ proposal that a dividend of €4.70 per share be distributed for fiscal 2023. As a result, Siemens has raised the dividend €0.45 compared to the prior year and has continued to pursue its progressive dividend policy in an impressive manner. In addition, the Annual Shareholders’ Meeting voted by large majorities to ratify the acts of the members of the Managing and Supervisory Boards for fiscal 2023. The number of people following the Annual Shareholders’ Meeting worldwide peaked at more than 4,395. Around 147 questions were asked during this year’s event, and about 64.38 percent of the voting stock was represented.

• First-quarter revenue rose 6% on a comparable basis, excluding currency translation and portfolio effects, and orders increased 2% compared to the same quarter a year earlier
• On a nominal basis, revenue rose 2% to €18.4 billion and orders came in slightly lower year-over-year at €22.3 billion, for a book-to-bill ratio of 1.21
• Profit Industrial Business was €2.7 billion with a profit margin of 15.8%, both slightly higher year-over-year
• Net income climbed 56%, to €2.5 billion, including €0.5 billion from Siemens Energy Investment; corresponding basic earnings per share (EPS) were €3.03 and EPS before purchase price allocation accounting (EPS pre PPA) were €3.19; excluding €0.61 per share related to Siemens Energy Investment, EPS pre PPA were €2.58
• Free cash flow rose sharply to €1.0 billion driven by Industrial Business

• Siemens one of few companies out of 21,000 to secure a place in the CDP Climate Change A List
• CDP rating recognizes Siemens’ strong approach in the area of climate change

In recognition of its environmental leadership and comprehensive disclosure in the area of climate change, Siemens has been included by the CDP on its annual Climate Change A List, the highest possible performance ranking. CDP is a leading organization evaluating corporate action on climate strategies. The non-profit assessed more than 21,000 companies on the basis of data reported in its 2023 climate change questionnaire. Siemens is one of the few companies to have received an “A” rating.

• Italian distribution system operator (DSO), Areti, to use Siemens technology to forecast grid congestion and request flexibility on MV and LV grids
• Set of algorithms developed by Siemens for RomeFlex project enables the Roman DSO to use flexibility to make the grid smarter, more resilient and future-proof
• With the RomeFlex project, Areti and Siemens will build on the experience gained from the EU Platone project

Siemens and Roman DSO, Areti, have announced their collaboration on the RomeFlex project, which starting today will test the ability to manage congestion and voltage volatility across the stressed power grids of Italy's capital city.

• Enhancing proven machine learning capabilities with generative AI creates a robust, comprehensive predictive maintenance solution that leverages the strengths of both.
• Using a conversational user interface, manufacturers can take proactive actions easily, saving both time and resources.
• New generative AI functionality in Senseye Predictive Maintenance makes predictive maintenance conversational.

Siemens is releasing a new generative artificial intelligence (AI) functionality into its predictive maintenance solution – Senseye Predictive Maintenance. This advance makes predictive maintenance more conversational and intuitive. Through this new release of Senseye Predictive Maintenance with generative AI functionality, Siemens will make human-machine interactions and predictive maintenance faster and more efficient by enhancing proven machine learning capabilities with generative AI. 

• Leading electric two-wheel scooter brand expands adoption of software from the Siemens Xcelerator portfolio to help reduce design iterations, cycle times and explore the future of sustainable electric mobility solutions for the Indian market
• Expanded adoption of Product Lifecycle Management (PLM) solutions from Siemens Xcelerator now includes product engineering, virtual simulation and physical test for all existing and new vehicle platforms

Siemens Digital Industries Software announced today that Ather Energy, one of India’s foremost electric motorcycle brands, has expanded its adoption of the Siemens Xcelerator portfolio of industry software to help the company reduce its design and engineering cycle time, improve product quality and achieve faster time to market.

• Siemens and UL Solutions demonstrate a transformative shift from relying solely on physical tests to reliable integrating digital simulations.
• Reduced costs, accelerated time-to-market and seamless integration of digital modeling tools will redefine the future of verification.
• Siemens’ digital twin technology breaks through traditional testing boundaries, serving as a testament to the industrial metaverse’s potential for reshaping product development possibilities.

For the first time ever, an industrial product has been certified for the United States after parts of the required tests were conducted through digital simulation. That simulation was verified and validated with physical testing. This remarkable achievement is a global first in a national safety-certification process. To make this advance possible, Siemens collaborated with UL Solutions, an esteemed global leader in applied safety science. The result is a testimony to the remarkable accuracy and reliability of modern digital twin simulations. It marks a step forward into a future in which digital twins and the industrial metaverse streamlines product development, enhances innovation, safety and accelerates time-to-market.

Jim Hagemann Snabe, Chairman of the Supervisory Board of Siemens AG, is recovering from a leg injury that will prevent him from being physically present at this year’s annual shareholders’ meeting in Munich. As foreseen by the governance process in such cases, Second Deputy Chairman Werner Brandt will be the Chair of the annual shareholders’ meeting on February 8, 2024. "I regret that I won't be able to exchange personally with our shareholders at this year’s annual shareholders’ meeting and I am grateful that Werner Brandt will fill in while I get back to full strength", said Jim Hagemann Snabe.