Siemens Shows Strong 2Q

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.


Tagged with , ,

Comment on the story

Your email address will not be published. Required fields are marked *