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Preliminary operating results for first quarter of fiscal 2021 significantly above market expectations

Siemens will review its outlook for fiscal 2021 and publish its full earnings release for the first quarter of fiscal 2021 on February 3, 2021.
The figures below for the first quarter of fiscal 2021 are preliminary.
Digital Industries

  • Orders: €4,120 million, comparable +2% yoy, nominal -3% yoy (consensus: €3,995 million)
  • Revenue: €3,765 million, comparable +5% yoy, nominal 0% yoy (consensus: €3,561 million)
  • Adjusted EBITA: €848 million (consensus: €592 million)
  • Adjusted EBITA margin: 22.5% (consensus: 16.6%)
Adjusted EBITA for Digital Industries climbed 57% to €848 million, including higher capacity utilization due to a recovery of demand in the high-margin short-cycle automation business and higher capacity utilization as well as a strong profit contribution of the software business. Adjusted EBITA development also benefited from sharply lower severance charges year-over-year and cost savings related to pandemic restrictions such as lower travel and marketing expenses. Adjusted EBITA margin increased to 22.5%, up from 14.4% a year earlier.
Smart Infrastructure

  • Orders: €3,806 million, comparable +7% yoy, nominal +1% yoy (consensus: €3,547 million)
  • Revenue: €3,477 million, comparable +4% yoy, nominal -1% yoy (consensus: €3,343 million)
  • Adjusted EBITA: €391 million (consensus: €300 million)
  • Adjusted EBITA margin: 11.2% (consensus: 9.0%)
Adjusted EBITA for Smart Infrastructure rose 39% to €391 million on strong performance across the businesses, especially in the product business, and a resulting higher capacity utilization. Similarly to Digital Industries, Adjusted EBITA development of Smart Infrastructure benefited from sharply lower severance charges year-over-year and cost savings related to pandemic restrictions. Adjusted EBITA margin rose to 11.2%, up from 8.0% a year earlier.

  • Orders: €2,742 million, comparable +67% yoy, nominal +65% yoy (consensus: €2,348 million)
  • Revenue: €2,193 million, comparable +4% yoy, nominal +1% yoy (consensus: €2,259 million)
  • Adjusted EBITA: €219 million (consensus: €227 million)
  • Adjusted EBITA margin: 10.0% (consensus: 10.0%)
Mobility continued, as expected, to perform successfully despite pandemic-related headwinds. Adjusted EBITA and profitability held steady at €219 million and 10.0% Adjusted EBITA margin, respectively, level with last year’s pre-COVID-19 quarter.

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Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of electrification, automation and digitalization. One of the largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. With its publicly listed subsidiary Siemens Healthineers AG, the company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide. Further information is available on the Internet at
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This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral
forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks of the Annual Report. Should one or more of these risks or uncertainties materialize, events of force majeure, such as pandemics, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP- measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. Explanations of financial measures used can be found in the Annual Report 2020 of Siemens AG (available at, in particular in section A.2.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
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Florian Martens

Siemens AG

Werner-von-Siemens-Straße 1                       
80333 Munich

+49 (89) 636 22804