Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Siemens revenue stable despite fall in orders
(Sharecast News) - Siemens reported relatively stable revenue in its second quarter on Thursday, despite a 12% decline in comparable orders, reflecting a high volume of large orders in the mobility segment. The industrial technology conglomerate said its nominal revenue dipped 1% to €19.2bn, with orders dropping 13% to €20.5bn.
Despite that, the company maintained a book-to-bill ratio of 1.07 and increasing its order backlog to €114bn.
"We continued to benefit from strong demand for digitalisation and sustainability during our second quarter, particularly in the data centre and semiconductor industries," said president and chief executive officer Roland Busch.
"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."
Profit in the industrial business came in at €2.5bn, representing a 14% profit margin, consistent with the same period last year.
However, net income for the three mont period was €2.2bn, down from €3.6bn a year earlier, which included a significant €1.6bn tax-free gain from the reversal of an impairment on Siemens' stake in Siemens Energy.
Earnings per share for the quarter came in at 257 euro cents, with earnings per share before purchase price allocation accounting reported at 273 cents.
Chief financial officer Ralf Thomas highlighted the company's strategic advancements, noting that with Innomotics, the company had taken "another significant step" in optimising its portfolio.
"Based on our solid performance in the first half of the fiscal year, a very strong balance sheet recognised by our latest rating upgrade, and our record order backlog, we look to the future with confidence as a leading technology company," Thomas said.
"We confirm our outlook for fiscal 2024."
At 1010 CEST (0910 BST), shares in Siemens AG were down 2.74% at €182.56.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.