Siemens quarterly figures Q1/2024Siemens starts better than expected
The first quarter of fiscal year 2024 went well for Siemens: Revenue from September to December 2023 increased nominally by 2% to EUR 18.4 billion, profit after tax by 56% and order intake was also better than many analysts would have expected.
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Siemens Financial Services contributed to the good result: The higher results from debt financing business are mainly due to lower expenses for loan loss provisions. The results of the investment business were particularly high due to a gain of €131 million from the sale of a stake in an investment, which was completed as expected at the end of the quarter. The decrease in total assets is primarily due to negative currency translation effects, according to the Group.