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• Revenue for the first quarter climbed 10% year-over-year, to €18.1 billion; orders came in very strong and well above revenue at €22.6 billion, 7% below Q1 FY 2022 which included extraordinarily high order intake at Digital Industries and Mobility; the book-to-bill ratio was robust at 1.25
• On a comparable basis, excluding currency translation and portfolio effects, revenue rose 8% and orders declined 8%
• Profit Industrial Business increased 9%, to €2.7 billion, with a profit margin of 15.6%, driven by sharp profit increase in Smart Infrastructure and substantially higher profit in Digital Industries
• Net income was €1.6 billion; corresponding basic earnings per share (EPS) were €1.87 and EPS before purchase price allocation accounting (EPS pre PPA) were €2.08

• Continuing growth momentum and very good results in Q1
• Revenue up 8 percent on a comparable basis to €18.1 billion (Q1 2022: €16.5 billion)
• At €22.6 billion, orders at a high level (Q1 2022: €24.2 billion)
• Profit Industrial Business at €2.7 billion – a 9 percent increase and at a record level in Q1 2023 (Q1 2022: €2.5 billion)
• Net income of €1.6 billion (Q1 2022: €1.8 billion)
• Guidance raised: Siemens now expects comparable revenue growth in the range of 7 percent to 10 percent (previously expected at 6 percent to 9 percent) and an increase in basic EPS pre PPA to a range of €8.90 to €9.40 (previously expected at €8.70 to €9.20)

Siemens started fiscal 2023 (to December 31, 2022) with a strong performance and maintained its continuing growth momentum with very good results in Q1. The company leveraged growth opportunities in its key markets despite a still complex macroeconomic environment. Following the strong start in fiscal 2023, Siemens raises its outlook for fiscal 2023. For the Siemens Group, the company now expects comparable revenue growth, net of currency translation and portfolio effects, in the range of 7 percent to 10 percent (previously expected at 6 percent to 9 percent) and continues to expect a book-to-bill ratio above 1. Furthermore, Siemens now expects this profitable growth of its industrial businesses to drive an increase in basic EPS from net income before purchase price allocation accounting (EPS pre PPA) to a range of €8.90 to €9.40 (previously expected at €8.70 to €9.20) in fiscal 2023.

• Accelerated DER growth to challenge state-of-the-art grid management
• Open and modular approach will improve DER flexibility
• EnergyHub is a leading provider of grid-edge flexibility with nearly 1 million DERs under management
• Siemens brings extensive power grid expertise, global footprint to partnership
• Cooperation based on complementary portfolio elements, supports transition to distributed grid for net zero world

Siemens has partnered with EnergyHub to expand its ecosystem of partners for its grid software business. EnergyHub provides a top-tier grid-edge management solution, which combines its DERMS platform with turnkey program management to enable utilities to scale grid-edge flexibility. EnergyHub controls all classes of DERs including thermostats, electric vehicles, energy storage, and solar inverters. The company works with over 60 North American utilities to manage more than 1.3 GW of flexible capacity. Siemens is a leading provider of grid planning, operations and maintenance software and brings extensive power systems and grid control domain expertise to the partnership. 

• Pilot operation with climate-friendly battery-powered trains
• Record performance of powerful Mireo Plus B on topographically challenging Westerwald route
• Diesel trains to be replaced by eco-friendly battery trains

Hessische Landesbahn has opted for three two-car Mireo Plus B battery trains from Siemens Mobility for their Upper and Lower Westerwald railway pilot project. Both routes in the Westerwald, with demanding gradients and long non-electrified sections, require high-performance trains. With its high drive power, the Mireo Plus B is ideally suited to meet this challenge. Battery-powered trains will achieve substantial CO2 savings and reduce noise levels and exhaust emissions in the region when they replace diesel trains. 

• Questa Verification IQ helps global engineering teams collaborate in real time to accelerate the verification management process and provide real-time project visibility
• Seamlessly integrates with industry-leading Polarion REQUIREMENTS to deliver a platform that automatically captures all data from every engine run across the life of a project

Siemens Digital Industries Software today introduced Questa™ Verification IQ software – a groundbreaking solution that helps logic verification teams overcome a host of challenges associated with the dramatic rise in design complexity of sophisticated, next-generation integrated circuits (ICs). Team-based, cloud-enabled, data-driven and powered by artificial intelligence (AI) technology, Questa Verification IQ helps to accelerate verification closure, streamline traceability, optimize resources and speed time-to-market.

• BASF, BMW Group, Henkel, Mercedes-Benz, SAP, Schaeffler, Siemens, T-Systems, Volkswagen and ZF jointly founded Cofinity-X to accelerate the operation and adoption of Catena-X use-cases throughout the automotive industry.
• Cofinity-X aims to operate an open marketplace for applications and provide products and services to enable the efficient and secure exchange of data between all participants of the ecosystem initially focusing on the European market.
• Cofinity-X will help to make important progress with the operationalization and build-up of end-to-end data-chains to trace material flows throughout the entire value chain.
• Basis for the operation will be the trusted Catena-X and Gaia-X principles ensuring full data sovereignty for data sharing parties in an open, trusted, collaborative, and secure environment.

With the foundation of Cofinity-X the shareholders BASF, BMW Group, Henkel, Mercedes-Benz, SAP, Schaeffler, Siemens, T-Systems, Volkswagen and ZF initiate the next step in Europe to foster the Catena-X initiative. Cofinity-X strives to be one of the first operating companies which aims to provide products and services for the secure exchange of data throughout the entire automotive value chain.

Siemens and Skyway agreed to work together to determine the electrical and digital infrastructure needed to support vertiport operations. Vertiports are hubs for vertical take-off and landing (VTOL) vehicles such as air taxis and drones. The scope of collaboration involves both companies researching energy demands of vertiports and developing sustainable electrical supply, standard charging processes, and a “system of systems” to support aircraft operations. Innovation around vertiport infrastructure will be critical to the future scalability of electric vertical take-off and landing (eVTOL) flight operations.

• eXplore Live at Deloitte’s The Smart Factory @ Wichita helps companies experience the future of smart manufacturing and the power of digitalization using the Siemens Xcelerator portfolio
• New dedicated space allows Siemens, Deloitte and other collaborators to bring suppliers and customers together to work towards engineering excellence

Siemens Digital Industries Software today announced the opening of eXplore Live at The Smart Factory @ Wichita, an experience center convened by Deloitte that marries an ecosystem of world-leading organizations with business strategy and cutting-edge technology to demonstrate Industry 4.0. Located on Wichita State University’s Innovation Campus, The Smart Factory includes a fully operational production line and experiential labs for developing and exploring innovative capabilities of smart manufacturing. 

• Siemens Advanta expands its footprint in the United Kingdom
• Vendigital is a leading UK-based Operations Consultancy
• Complementary capabilities to add value for Siemens’ clients

Siemens has acquired the UK-based consulting company Vendigital, which will become part of Siemens Advanta, the professional services business unit of Siemens. The transaction was signed and closed on December 22, 2022.