Siemens Mobility Q1 Report 2024

Siemens again delivered a strong quarter, maintaining a trajectory of profitable growth. We expanded our partnerships with Microsoft and AWS to make artificial intelligence even more accessible. Our customers have full confidence in us as their technology partner to support them with their digital and sustainability transformations. 

-Roland Busch, President and Chief Executive Officer of Siemens AG

Highlights

• First-quarter revenue rose 6% on a comparable basis, excluding currency translation and portfolio effects, and orders increased 2% compared to the same quarter a year earlier
• On a nominal basis, revenue rose 2% to €18.4 billion and orders came in slightly lower year-over-year at €22.3 billion, for a book-to-bill ratio of 1.21
• Profit Industrial Business was €2.7 billion with a profit margin of 15.8%, both slightly higher year-over-year
• Net income climbed 56%, to €2.5 billion, including €0.5 billion from Siemens Energy Investment; corresponding basic earnings per share (EPS) were €3.03 and EPS before purchase price allocation accounting (EPS pre PPA) were €3.19; excluding €0.61 per share related to Siemens Energy Investment, EPS pre PPA were €2.58
• Free cash flow rose sharply to €1.0 billion driven by Industrial Business