Siemens quarterly figures Q1/2024
At €2.7 billion (+3%), earnings in the Industrial Business recorded growth in almost all industrial businesses and thus reached a record level for a first quarter, according to the Group. After taxes, Siemens achieved a 56% increase in earnings to around €2.5 billion (Q1/2023: €1.6 billion). Siemens also benefited from a profit from the transfer of an 8% stake in Siemens Energy to its own pension fund. In future, the Group will only report the remaining 17.1% stake as a financial asset. In addition, as announced in November 2023, the company will soon launch a new share buyback program with a volume of up to €6 billion over a period of up to five years.basic earnings per share before purchase price allocation effects amounted to €3.19 (Q1/2023: €2.08) and were thus 53% higher than in the same quarter of the previous year.