© Siemens

Despite lower volumes from large orders, order intake in the Portfolio Companies division increased in almost all businesses compared to the first quarter of 2021, where growth was impacted by COVID-19. The strongest contribution to revenue growth came from Siemens Logistics' parcel handling business. Portfolio Companies' share of the loss at Valeo Siemens eAutomotive was almost offset by the positive effect of a payment received from the joint venture partner in connection with a shareholder loan.