Manufacturers

Siemens Delivers Solid 2Q Earnings

Siemens Delivers Solid 2Q Earnings

MUNICH, Germany — Siemens released its Q2 Fiscal Year 2016 earnings report.

Joe Kaeser, President and Chief Executive Officer of Siemens AG, stated: “We delivered another convincing performance in the second quarter, compared to both the prior year and our industry sector. Despite ongoing challenges in the market environment, we will continue to focus rigorously on profitable growth.”

  • Major orders in Egypt and the U.K. drive second-quarter orders up 7% year-over-year, to €22.3 billion; revenue 5% higher at €19.0 billion, for a book-to-bill ratio of 1.17
  • Excluding currency translation effects, orders 10% higher and revenue up 7%
  • Industrial Business profit climbs 28% year-over-year, to €2.1 billion, including significant margin expansion, with most industrial businesses contributing to the increase – profit margin Industrial Business at 10.9%
  • Net income of €1.5 billion came in below the €3.9 billion in Q2 FY 2015 which included €3.0 billion in divestment gains from the sale of the hearing aid business and Siemens’ stake in BSH Bosch und Siemens Hausgeräte GmbH (BSH); basic earnings per share (EPS) of €1.78 compared to €4.70 in Q2 FY 2015

The complete Earnings Release and Financial Results can be found in this pdf.

 

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