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.
Incoming orders in the Smart Infrastructure division were on a par with the very strong prior-year quarter. Positive drivers were the systems and software business in particular; Asia and Australia were especially strong regionally. Across the businesses and regions, this Siemens Group achieved considerable sales growth despite lower demand for products in the short-cycle industries. The majority of Smart Infrastructure's businesses increased profitability in the first quarter, supported by currency effects.