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News06 February 2020Siemens AGSiemens Korea, Seoul

[Global News] Strong demand delivers record high for order backlog - focus on energy businesses

Siemens Gamesa Renewable Energy showed 82% of sharp growth due to large orders for offshore wind-farms. Siemens Healthineers also recorded significant growth of 17%, while orders decreased in Mobility and Gas and Power for about 63% and 7% respectively, compared to Q1 FY 2019. "After a powerful finish in fiscal 2019, the first quarter started slowly as expected. The weak performance across our energy businesses reinforces our priorities. We confirm our full-year guidance and will list Siemens Energy on the stock exchange in September as planned. This is a major milestone in positioning Siemens for the future." said Joe Kaeser, President and Chief Executive Officer of Siemens AG.
Financial Highlights:
  • Orders at €24.8 billion, down 2% from the strong prior-year level as sharply lower volume from large orders in Mobility more than offset increases in the majority of industrial businesses, particularly in Siemens Gamesa Renewable Energy (SGRE); revenue rose 1%, to €20.3 billion
  • On a comparable basis, excluding currency translation and portfolio effects, orders declined 4% and revenue was down 1%; the book-to-bill ratio was a strong 1.22 and the order backlog reached a new high at €149 billion
  • Adjusted EBITA Industrial Businesses declined to €1.4 billion, due mainly to a loss in SGRE and market weakness for short-cycle businesses; Adjusted EBITA margin Industrial Businesses was 7.3%, held back by €0.2 billion in severance charges, which reduced Adjusted EBITA margin Industrial Businesses by 1.0 percentage points
  • Net income declined 3% to €1.1 billion and included substantially better results outside Industrial Businesses compared to Q1 FY 2019; basic earnings per share (EPS) rose 6% to €1.33

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