MUNICH, Germany — Siemens has released its first-quarter results for fiscal 2026.
Highlights:
- First quarter orders were up 10% on a comparable basis, excluding currency translation and portfolio effects, with double-digit increases in most industrial businesses; comparable revenue rose 8%, including growth in all industrial businesses
- On a nominal basis, orders rose 7% to €21.4 billion, and revenue was up 4% to €19.1 billion; the book-to-bill ratio was 1.12
- Profit Industrial Business increased to €2.9 billion, with a profit margin of 15.6%, driven by considerable improvements at Digital Industries and Smart Infrastructure
- Net income came in strong at €2.2 billion; in Q1 FY 2025, net income of €3.9 billion had benefited from a €2.1 billion gain (after tax) from the sale of Innomotics; for the current quarter, basic earnings per share (EPS) were €2.60, and EPS before purchase price allocation accounting (EPS pre PPA) were €2.80
- Free cash flow from continuing and discontinued operations was €0.7 billion
“Our strong first-quarter performance shows that we’re delivering on our strategy. Siemens is very well positioned in its growth markets. Artificial intelligence is a strong growth driver for our businesses. We’re scaling industrial AI in our core industries together with world-class partners. By integrating AI deeply into design, development, products and operations, we’re adding measurable value for our customers,” said Roland Busch, President and Chief Executive Officer of Siemens AG. “After a strong start to the fiscal year, we raise our outlook.
Roland Busch, President and Chief Executive Officer of Siemens AG
“Our strong operating performance translated into high profitability in the first quarter. We are continuing to rigorously execute our strategy, and our accelerated share buyback program is consistently creating value for shareholders.”
Ralf P. Thomas, Chief Financial Officer of Siemens AG
Please read the complete Earnings Release and Financial Results:
The financial publications can be downloaded at www.siemens.com/ir
Outlook
After a strong start to the fiscal year, the company raised its outlook for basic EPS from net income before purchase price allocation accounting (EPS pre PPA) from a range of €10.40 to €11.00 to a range of €10.70 to €11.10 for fiscal 2026.
Furthermore, the company confirms the remaining expectations for fiscal 2026 given in its Earnings Release Q4 FY 2025, which were as follows:
For fiscal 2026, the company assumes that the global economic environment will stabilize and that global GDP growth will remain near the prior-year level.
The company also anticipates that in fiscal 2026, negative currency effects will strongly burden nominal growth rates in volume as well as profit for our industrial businesses and earnings per share (EPS).
For fiscal 2026, Digital Industries expects comparable revenue growth − net of currency translation and portfolio effects − of 5% to 10% and a profit margin of 15% to 19%.
Smart Infrastructure expects for fiscal 2026 comparable revenue growth of 6% to 9% and a profit margin of 18% to 19%.
Mobility expects for fiscal 2026 comparable revenue growth of 8% to 10% and a profit margin of 8% to 10%.
For the Siemens Group, the company expects comparable revenue growth in the range of 6% to 8% and a book-to-bill ratio above 1 for fiscal 2026.
This outlook excludes burdens from legal and regulatory matters.
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