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News11 August 2022Siemens AGSiemens Korea, Seoul

[Global News] Strong top line momentum and solid execution – outstanding Free cash flow

In addition, Siemens continued to avoid major disruptions from supply chain risks associated with electronics components, raw materials, and logistics and showed substantial order growth at Digital Industries and Smart Infrastructure Businesses with sharply lower volume from large orders in Mobility which in Q3 FY 2021 won a €2.8 billion order in the U.S. Revenue increased in all industrial businesses, led by significant growth in Digital Industries and Smart Infrastructure.
“We captured significant opportunities in a market environment with ongoing high demand. Our strong top line momentum continued, with a comparable order growth of 20 percent since the beginning of fiscal 2022. This shows: Our business is attractive and grew once again. We have the right offerings and the right strategy to be successful even in uncertain times,” said Roland Busch, President and Chief Executive Officer of Siemens AG. “We made significant progress as a focused technology company in the third quarter with the launch of our open digital business platform, Siemens Xcelerator, accelerating the digital transformation of our customers. We also acquired Brightly Software, an outstanding software-as-a-service player in the building space, which perfectly complements our leading position in smart buildings.”

Financial Highlights:

  • Orders for the third quarter climbed 7% year-over-year, reaching €22.0 billion despite substantially lower volume from large orders in Mobility, while revenue rose 11% year-over-year, to €17.9 billion, for a book-to-bill ratio of 1.23
  • Orders rose 1% and revenue grew 4% on a comparable basis, excluding currency translation and portfolio effects 
  • Profit Industrial Business was €2.9 billion with a profit margin of 17.0%, both benefitting substantially from a €0.7 billion divestment gain in Mobility 
  • The Net loss of €1.5 billion for the quarter was due primarily to a previously disclosed nontax-deductible impairment of the stake in Siemens Energy recorded in the amount of €2.7 billion; corresponding basic earnings per share (EPS) were a negative €2.06 and EPS before purchase price allocation accounting (EPS pre PPA) were a negative €1.85 each including a negative €3.37 per share related to the impairment 
  • Again excellent Free cash flow from continuing and discontinued operations, reaching €2.3 billion for the quarter 
  • At the beginning of Q4 FY 2022, Siemens closed the sales of its stake in Valeo Siemens eAutomotive GmbH (Valeo Siemens) and the mail and parcel-handling business of Siemens Logistics, respectively, which subsequently resulted in cash inflows totaling €1.5 billion; such inflows are not included in Free cash flow

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