MUNICH, Germany — Coinciding with the manufacturer’s announcement that it is going to spin off its Gas and Power Business, Siemens released its second quarter FY 2019 financial results.
- Orders grew 6%, to €23.6 billion (USD $26.43 billion), and revenue rose 4%, to €20.9 billion (USD $23.4 billion), for a book-to-bill ratio of 1.13 and record high order backlog of €142 billion (USD $159.01 billion)
- On a comparable basis, excluding currency translation and portfolio effects, orders increased 4% and revenue was up 2% compared to Q2 FY 2018
- Adjusted EBITA for Industrial Business climbed 7% to €2.4 billion (USD $2.69 billion), with most businesses increasing their performance; Industrial Business Adjusted EBITA margin reached 11.4%, even with severance charges taking 0.3 percentage points
- Net income reached €1.9 billion (USD $2.13 billion), near the prior-year level which benefited substantially from a €0.7 billion (USD $0.78 billion) Adjusted EBITA from Centrally managed portfolio activities; the current period benefited from a lower income tax rate, and basic EPS of €2.24 (USD $2.51) was burdened by €0.08 (USD $.09) from severance charges
“We delivered on our promises again this quarter, and even exceeded expectations in many areas. Now, we enter into a new era to become an even stronger and more focused Siemens,” stated Joe Kaeser, President and Chief Executive Officer of Siemens AG.
The entire earnings report can be viewed here.
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