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News06 August 2020Siemens AGSiemens Korea, Seoul

[Global News] Siemens on successful path in uncertain times

Despite a higher volume from large orders, overall orders came in lower due to declines in Siemens Healthineers and Smart Infrastructure. Orders rose on higher volume from large orders in Mobility. Digital Industries saw double-digit growth in its software business, but weaker demand in automotive. "Despite the severe global crisis, we delivered strong operating performance and rigorously drove our realignment forward. Our strategy concept Vision 2020+ is gaining traction. Our employees and our partners have my deep gratitude and respect. Together, they’ve set an impressive benchmark for dedication and performance," said Joe Kaeser, President and Chief Executive Officer of Siemens AG.
Financial Highlights:
  • Revenue was €13.5 billion, 5% lower than the same quarter a year ago, with Mobility delivering growth and other industrial businesses posting declines resulting largely from factors related to COVID-19; orders, which came in 7% lower at €14.4 billion, included significant contract wins at Mobility resulting in a book-to-bill ratio well above one, at 1.07
  • Revenue and orders showed the same development on a comparable basis, excluding currency translation and portfolio effects
  • Adjusted EBITA Industrial Businesses increased to €1.8 billion, benefiting from a €0.2 billion gain from revaluation of an equity stake within Digital Industries; Adjusted EBITA margin Industrial Businesses was 14.3%, including the revaluation effect which contributed 1.7 percentage points and severance charges which took 0.4 percentage points
  • Net income was €0.5 billion and basic earnings per share (EPS) were €0.67
  • Strong Free cash flow of €2.5 billion, up from €0.4 billion in Q3 FY 2019; improvements in all industrial businesses

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