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News15 November 2024Siemens AGSiemens Korea, Seoul

[Global News] Strong fourth quarter completes successful fiscal 2024

In the fourth quarter, there was strong order intake with significant growth in the Mobility segment, driven by higher volumes from large orders, including maintenance contracts for locomotives and intercity trains in the U.S. Smart Infrastructure recorded an increase in order intake, fueled by larger contract wins. Digital Industries experienced a decline in order intake. Revenue growth for Smart Infrastructure, Mobility, and Siemens Healthineers was largely offset by a decline in the automation business at Digital Industries. Currency translation effects reduced both order and revenue growth by one percentage point each, while portfolio effects decreased order growth by one percentage point and had a minimal impact on revenue growth.
“In another successful fiscal year, we delivered record profit and stringently executed our strategy. We benefited from continuing strong demand for electrification, transportation and our industrial software offerings while our automation business remained challenging,” said Roland Busch, President and CEO of Siemens AG. 

Financial Highlights:

  • Orders rose 10% and revenue increased 2% in the fourth quarter on a comparable basis, excluding currency translation and portfolio effects 
  • On a nominal basis, orders grew 8%, to €22.9 billion, and revenue was up 1%, at €20.8 billion, for a book-to-bill ratio of 1.10 
  • Profit Industrial Business was strong at €3.1 billion, on a profit margin of 15.5% 
  •  Net income increased to €2.1 billion; corresponding basic earnings per share (EPS) were €2.42 and EPS before purchase price allocation accounting (EPS pre PPA) were €2.57 
  • Excellent cash generation resulted in €5.0 billion of Free cash flow for the Siemens Group
  • For the full fiscal year, comparable revenue grew 3% and comparable orders declined 4%; on a nominal basis, revenue increased 1%, to €75.9 billion, and orders decreased 6%, to €84.1 billion, for a strong book-to-bill-ratio of 1.11 
  • Fiscal 2024 Profit Industrial Business was up slightly at €11.4 billion 
  • Net income rose 5% to a historic high of €9.0 billion; corresponding basic EPS increased to €10.53, and EPS pre PPA reached €11.15; we achieved our guidance with EPS pre PPA of €10.54 excluding Siemens Energy Investment, which contributed €0.61 to EPS pre PPA 
  • Strong Free cash flow of €9.5 billion for the Siemens Group 
  • Siemens proposes to increase the dividend from €4.70 a year earlier to €5.20 per share 
  • After the close of FY 2024 Siemens completed the sale of Innomotics, resulting in a preliminary gain after tax of €2.0 billion in fiscal 2025, which will be disclosed in income from discontinued operations, net of income taxes

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