Forecast raisedSiemens earns significantly more
In the past second quarter of fiscal year 2023, Siemens almost tripled its profit compared to the same period of the previous year.
The Mobility division also reported a record figure: the division more than doubled its order intake and achieved a new quarterly high: order intake amounted to EUR 6.2 billion in the past quarter (Q2/22: EUR 2.5 billion). This growth is attributable to a number of major orders, including an order worth EUR 2.9 billion for locomotives and associated maintenance in India and an order worth EUR 0.3 billion in Singapore for signaling systems and railroad infrastructure. Sales revenue grew by 33% on a comparable basis to EUR 2.7 billion, with growth contributions from all businesses and led by a very strong increase in the rolling stock business.
Earnings rose to 247 million euros, with a profit margin of 9.2%. Earnings and profitability were therefore back in positive territory, in contrast to the same quarter of the previous year, which was impacted by charges of EUR 0.6 billion as a result of sanctions imposed on Russia. According to the Group, the past quarter benefited from delayed Russia-related effects amounting to EUR 78 million, which were largely offset by provisions for incentive payments and a less favorable business mix.