Siemens 1st quarter 2020Cautious start to the new financial year
Siemens' first quarter of 2020 was characterized by a record order backlog and a simultaneous decline in sales and incoming orders - according to statements made at the company's Annual General Meeting on February 5. The figures in detail.
The Digital Industries division successfully continued its growth trajectory in terms of incoming orders in the software business. However, demand in the short-cycle product business continued to cool significantly, particularly in the automotive and mechanical engineering sectors. In geographical terms, Digital Industries' overall order growth was attributable to the Americas region, with the USA as the growth driver. Overall, incoming orders increased slightly on a comparable basis. Sales declined primarily due to the downward market trend in short-cycle business, particularly in Germany.