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News08 August 2024Siemens AGSiemens Korea, Seoul

[Global News] Profitable growth in third quarter – outlook confirmed

In the third quarter, most industrial businesses experienced higher order volumes, with Digital Industries and Smart Infrastructure both seeing double-digit increases due to significant contract wins. In contrast, Mobility saw a sharp decline in large order volumes compared to the same period last year, when it achieved record-high order intake. Revenue growth was prominently driven by Smart Infrastructure, which reported a notable double-digit increase, along with additional contributions came from Siemens Healthineers and Mobility. 
“We grew profitably in the third quarter, continuing to benefit from the high demand in electrification. Another growth driver was our particularly strong industrial software business, which won several large license contracts. The industrial automation business remains challenging. We confirm our company’s full-year outlook,” said Roland Busch, President and Chief Executive Officer of Siemens AG. 

Financial Highlights:

  • Third-quarter revenue rose 5% on a comparable basis, excluding currency translation and portfolio effects; comparable orders came in 15% lower than in Q3 FY 2023, which included a record-high level of orders in Mobility 
  • On a nominal basis, revenue increased 4% to €18.9 billion; orders were down 16% at €19.8 billion but exceeded revenue for a book-tobill ratio of 1.05, and the order backlog remained on a high level at €113 billion
  • Profit Industrial Business rose 11% to €3.0 billion, and the profit margin reached 16.5%, well above the prior-year quarter
  • Net income was €2.1 billion, with corresponding basic earnings per share (EPS) of €2.51 and EPS before purchase price allocation accounting (EPS pre PPA) of €2.66 

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