Solid second-quarter performance - Outlook confirmed

press.siemens.com, May. 16, 2024 – 

• At €19.2 billion on a comparable basis, revenue was nearly unchanged year-over-year (Q2 2023: €19.4 billion)
• Orders in Q2 2024 reached €20.5 billion (Q2 2023: €23.6 billion), a decline of 12 percent on a comparable basis
• At €2.5 billion, Profit Industrial Business was close to the prior-year level (Q2 2023: €2.6 billion)
• Net income totaled €2.2 billion (Q2 2023: €3.6 billion); net income in Q2 2023 benefited from a tax-free gain of €1.6 billion from the partial reversal of an impairment of Siemens' stake in Siemens Energy AG
• Free cash flow all-in at Group level was €1.3 billion (Q2 2023: €2.3 billion)
• Outlook at Group level confirmed

Siemens delivered solid performance in the second quarter, successfully meeting the high demand for digitalization and sustainability technology. Notably, the industrial software business showed strong growth with particularly high demand in the semiconductor industry. Demand from customers for the construction of data centers also showed strong momentum. Currently muted demand in the short-cycle automation business at Digital Industries, particularly in China and Europe, was largely offset by strong revenue development at Smart Infrastructure and Mobility. In addition, Siemens took a key step in focusing its portfolio with the sale of Innomotics to KPS Capital Partners for €3.5 billion.

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