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Press Release07 August 2025Siemens AGMunich
Robust results continue – Outlook confirmed
“Our
third-quarter performance demonstrates that Siemens is delivering robust
results despite the volatile global market. We’re posting sustained growth
momentum in orders, revenue and net income. Digitalization and sustainability
continue to be our growth drivers. In addition, with the closing of our
acquisition of Dotmatics, we’re opening up new markets in life sciences and are
combining scientific intelligence with our industrial AI technologies,” said
Roland Busch, President and Chief Executive Officer of Siemens AG.
“In
the third quarter, we posted an excellent €2.9 billion in free cash flow,
and we are again aiming to achieve a double-digit free-cash-flow return for the
full fiscal year. Looking ahead, we remain highly confident that we will
deliver sustainable and profitable growth. We confirm our outlook for fiscal 2025,”
said Ralf P. Thomas, Chief Financial Officer of Siemens AG.
Strong growth in orders and free cash flow
In
Q3 2025, Siemens increased orders 28 percent on a comparable basis –
that is, excluding currency translation and portfolio effects – to
€24.7 billion
(Q3 2024: €19.8 billion). Revenue totaled €19.4 billion, a
5 percent increase year-over-year on a comparable basis (Q3 2024:
€18.9 billion). The book-to-bill ratio totaled an excellent 1.28. The
order backlog at the end of Q3 2025 totaled €117 billion and was of
high quality.
Profit Industrial Business declined
7 percent to €2.8 billion (Q3 2024: €3.0 billion) due to a sharp decline in profit at
Digital Industries after an exceptionally strong profit at the software
business in the prior-year quarter. At all other industrial businesses, profit
and profitability increased. The profit margin of the Industrial Business was
14.9 percent (Q3 2024: 16.5 percent).
Net income
climbed 5 percent to €2.2 billion
(Q3 2024: €2.1 billion), benefiting, among other things, from a €0.2 billion gain
from the closing of the sale of part of the airport logistics business. Corresponding basic earnings per share
before purchase price allocation accounting (EPS pre PPA) were €2.78
and thus 5 percent higher than in the prior-year quarter (Q3 2024:
€2.66).
Free cash
flow all-in at Group level from continuing and discontinued operations totaled an
excellent €2.9 billion (Q3 2024: €2.1 billion). Free cash flow at the Industrial Business increased
significantly from €2.5 billion to €3.0 billion, including
improvements at all industrial businesses.
Profitable growth at Smart Infrastructure and Mobility
Orders at Digital Industries decreased
moderately to €4.4 billion (Q3 2024: €4.5 billion). Nevertheless,
orders at the automation business were up from a low prior-year basis on higher
demand in all three reporting regions, including substantial growth in China
and the U.S. This increase was more than offset by a decline at the software
business, where orders came in below the exceptionally strong Q3 2024,
which had included a number of large contract wins for licensed software.
Comparable revenue was down 10 percent to €4.4 billion (Q3 2024:
€4.9 billion). The substantial revenue decline at the software business
was also largely due to the high level of licensed software contracts in
Q3 2024. In contrast, revenue at the automation business increased
year-over-year for the first time since Q4 2023, driven mainly by China.
Profit (€642 million) and profitability (14.5 percent) decreased largely
due to lower revenue at the software business and to higher severance charges
related mainly to the automation business.
At €5.7 billion,
comparable orders at Smart Infrastructure came in close to the strong
prior-year level (Q3 2024: €6.0 billion), which had included a number
of large contracts from data centers and energy customers. Revenue increased at
all businesses and in all reporting regions, climbing 9 percent on a
comparable basis to €5.7 billion (Q3 2024: €5.4 billion), led by
the electrification business, which continued to execute strongly on its large
order backlog from data centers and energy customers. Smart Infrastructure again
grew profit and profitability year-over-year on higher revenue, increased
capacity utilization and ongoing productivity improvements. Profit increased 16 percent
to €1.1 billion (Q3 2024: €923 million), and the profit margin
rose to 18.8 percent (Q3 2024: 17.0 percent).
At Mobility,
orders more than tripled to €7.9 billion (Q3 2024: €2.4 billion)
on a sharply higher volume from large orders, including an order worth €3.5 billion
from an existing framework agreement for a turnkey rail system in Egypt as well
as a €1.7 billion order for high-speed trains and services in the U.S. Mobility
increased its revenue 19 percent on a comparable basis to €3.1 billion
(Q3 2024: €2.6 billion) on growth at all businesses, with the
strongest growth contributions coming from the rolling stock and customer
services businesses. Profit climbed 26 percent to €286 million due to
higher revenue (Q3 2024: €227 million). The corresponding profit
margin rose to 9.3 percent (Q3 2024: 8.7 percent).
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Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. A leader in industrial AI, Siemens leverages its deep domain know-how to apply AI – including generative AI – to real-world applications, making AI accessible and impactful for customers across diverse industries. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably.
In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.
Notes and forward-looking statements
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 in the Combined Management Report of the Siemens Report (
www.siemens.com/siemensreport), and in the Interim Group Management Report of the Half-year Financial Report (provided that it is already available for the current reporting year), which should be read in conjunction with the Combined Management Report. Should one or more of these risks or uncertainties materialize, should decrees, decisions, assessments or requirements of regulatory or governmental authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, 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.
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.
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.
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.