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News11 May 2020Siemens AGSiemens Korea, Seoul

[Global News] Robust performance in complicated times

Nevertheless, orders declined 8% due to lower volume of large orders in Mobility, which was partially offset by a clear increase of 6% in Siemens Healthineers. Revenue was close to the prior-year level. The 9% decline in Digital Industries was nearly covered by 12% of increases in Siemens Healthineers and Mobility. "We delivered a robust quarter given the serious circumstances. I am particularly impressed with my team that we are able to keep the original timeline for the spin-off of our energy business. While we expect to reach the bottom in the third quarter of fiscal 2020, we continue to keep the health and safety of our partners and employees as our first priority, while maintaining business continuity as much as responsibly possible", said Joe Kaeser, President and Chief Executive Officer of Siemens AG.
Financial Highlights:
  • Revenue was €14.2 billion, nearly level with the same quarter a year ago, as increases at Siemens Healthineers and Mobility offset a decline at Digital Industries. Orders declined 8%, to €15.1 billion, on sharply lower volume from large orders at Mobility.
  • On a comparable basis, excluding currency translation and portfolio effects, revenue declined 1% and orders came in 9% lower. The book-to-bill ratio of 1.06 remained well above one.
  • Adjusted EBITA Industrial Businesses was significantly lower at €1.6 billion, with all industrial businesses showing effects from the COVID-19 pandemic. Adjusted EBITA margin Industrial Businesses of 12.1% was held back also by severance charges of €0.2 billion, taking 1.2 percentage points.
  • Net income, including a loss of €0.3 billion from discontinued operations, was €0.7 billion compared to €1.9 billion in Q2 FY 2019, which benefited from income of €0.2 billion from discontinued operations as well as a lower tax rate. Basic earnings per share (EPS) declined to €0.80.

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