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Earnings Release Q1 FY 2014: A Sound Start to Fiscal 2014
Siemens delivered solid results in the first quarter, even though strong currency effects held back volume and income development.
Orders for the first quarter rose 9% year-over-year, to €20.836 billion, while revenue came in 3% lower, at €17.325 billion. On an organic basis, excluding currency translation and portfolio effects, orders were up 12% and revenue was just 1% below the prior-period level.
Total Sectors profit rose 15%, to €1.789 billion, highlighted by a strong performance in Infrastructure & Cities, and income from continuing operations climbed 21%.
Net income and basic earnings per share (EPS) for the first quarter rose 20% year-over-year, to €1.457 billion and €1.70, respectively.
"We delivered a sound quarter to start our fiscal year. As expected, market conditions were not in our favor. We continue to focus on our productivity program for the year, and on the actions we will take beyond 2014."
Siemens delivered solid results in the first quarter, even though strong currency effects held back volume and income development.
Orders for the first quarter rose 9% year-over-year, to €20.836 billion, while revenue came in 3% lower, at €17.325 billion. On an organic basis, excluding currency translation and portfolio effects, orders were up 12% and revenue was just 1% below the prior-period level.
Total Sectors profit rose 15%, to €1.789 billion, highlighted by a strong performance in Infrastructure & Cities, and income from continuing operations climbed 21%.
Net income and basic earnings per share (EPS) for the first quarter rose 20% year-over-year, to €1.457 billion and €1.70, respectively.
"We delivered a sound quarter to start our fiscal year. As expected, market conditions were not in our favor. We continue to focus on our productivity program for the year, and on the actions we will take beyond 2014."
Joe Kaeser, President and Chief Executive Officer of Siemens AG
Please read the complete Earnings Release in the attached PDF: Earnings Release