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News13 May 2022Siemens AGSiemens Korea, Seoul

[Global News] Strong operational performance and growth – Outlook confirmed

Major disruptions from increased supply chain risks associated with electronics components, raw materials and logistics were successfully avoided. Strong order intake on double-digit increases in all industrial businesses was achieved. Revenue grew significantly in Digital Industries and Smart Infrastructure, and substantial revenue growth was achieved in Siemens Healthineers; revenue development in Mobility was impacted by a reduction of revenue subsequent to sanctions imposed on Russia.
“In the second quarter, Siemens continued its growth path and achieved strong operational performance. The rise in orders and revenue again reflects the trust our customers place in us to support digitalization, automation and sustainability. In an extremely challenging environment, our business continues to be strong,” said Roland Busch, President and Chief Executive Officer of Siemens AG. “We join the international community in condemning the war in Ukraine and are focused on supporting our people and providing humanitarian aid. Today, we announced our decision to carry out an orderly process to wind down our industrial business activities in Russia.”

Financial Highlights:

  • Orders for the second quarter climbed 32% year-over-year, reaching €21.0 billion on double-digit increases in all industrial businesses, while revenue rose 16% year-over-year, to €17.0 billion, for a book-to-bill ratio of 1.23 
  • Orders rose 22% and revenue grew 7% on a comparable basis, excluding currency translation and portfolio effects, primarily the acquisition of Varian Medical Systems, Inc. (Varian) between the periods under review 
  • Profit Industrial Business came in lower at €1.8 billion with a profit margin of 11.0%, both heavily burdened by €0.6 billion in impacts, mainly in Mobility, subsequent to sanctions imposed on Russia 
  • Net income was €1.2 billion, with corresponding basic earnings per share (EPS) of €1.29 and EPS before purchase price allocation accounting (EPS pre PPA) of €1.50; while net income in the current period included Russia-related impacts totaling €0.6 billion, the prior-year quarter benefited from a €0.9 billion divestment gain within discontinued operations
  • Free cash flow from continuing and discontinued operations rose to €1.3 billion (Q2 FY 2021: €1.2 billion)

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