In the consolidated financial statements, higher license fees for brand rights combined with lower governance costs had a positive effect on earnings. Amortization of intangible assets acquired as part of business combinations increased, primarily due to Altair and Dotmatics. In addition, a gain of €0.2 billion was recognized from the transfer of shares in Fluence Energy to Siemens Pension Trust. The sale of the airport logistics business in the USA was completed in February 2026.
For fiscal year 2026, Siemens is raising its forecast for basic earnings per share before purchase price allocation (EPS pre PPA) to between €10.70 and €11.10. Comparable sales growth of 6 to 8% is expected with a book-to-bill ratio of over 1; negative currency effects are likely to have a negative impact on sales and earnings.