Siemens Mobility Half-Year Report 2024

“We continued to benefit from strong demand for digitalization and sustainability during our second quarter, particularly in the data center and semiconductor industries. Siemens proved its resilience with strong revenue performance in Smart Infrastructure, Mobility and industrial software; this nearly offset currently muted demand in Digital Industries’ automation business. With the right strategy, the right technologies and the right team, we are well positioned for profitable growth,” said Roland Busch, President and Chief Executive Officer of Siemens AG.

“With Innomotics, we have taken another significant step in optimizing our portfolio. Based on our solid performance in the first half of the fiscal year, a very strong balance sheet recognized by our latest rating upgrade, and our record order backlog, we look to the future with confidence as a leading technology company. We confirm our outlook for fiscal 2024,”

Highlights

  • Second-quarter revenue was nearly unchanged from a year earlier on a comparable basis, excluding currency translation and portfolio effects; comparable orders came in 12% lower than in Q2 FY 2023, which included a sharply higher volume from large orders in Mobility
  • On a nominal basis, revenue declined 1% to €19.2 billion and orders were down 13% at €20.5 billion; Siemens continued to advance on its growth path, with a book-to-bill ratio of 1.07 and an increase in the order backlog, which reached €114 billion
  • Profit Industrial Business was €2.5 billion with a profit margin of 14.0%, both close to the prior-year quarter
  • Net income was €2.2 billion; in Q2 FY 2023, net income of €3.6 billion benefited from a €1.6 billion tax-free gain from reversal of an impairment of Siemens’ stake in Siemens Energy AG; for the current quarter, corresponding basic earnings per share (EPS) were €2.57 and EPS before purchase price allocation accounting (EPS pre PPA) were €2.73

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