Quarterly figures Q2/2022Russian sanctions depress Siemens' profits
Siemens is discontinuing its business in Russia after around 170 years. The sanctions against the country reduce profits in the second quarter by around 600 million euros.
Digital Industries' order intake increased by a total of 32% to EUR 5.9 billion on a like-for-like basis. This growth extends across all areas. Sales revenue also increased on a like-for-like basis by a total of 9% to EUR 4.6 billion. Growth impetus came from China and Europe. The strongest contribution to incoming orders and sales came from the Factory Automation and Motion Control businesses.
Compared to the same quarter of the previous year, earnings rose by 2% to 826 million euros, with an earnings margin of 18.1%. Profitability was mainly impacted by lower sales revenue in the software business and higher expenses for cloud-based activities, including the effects of the accelerated conversion of parts of the business to Software-as-a-Service (SaaS), which recorded strong customer demand in the second quarter.