Siemens quarterly figures Q2/2024Industrial business almost at previous year's level
Siemens achieved a "solid performance" in the second quarter of the fiscal year, with strong growth in the industrial software business in particular. Overall, revenue was almost unchanged compared to the same period last year.
The change in order intake was strongly influenced by the very high comparative basis in Mobility - Q2 FY 2023 included a € 2.9 billion order for locomotives and associated maintenance in India - and a decline in the automation businesses of Digital Industries. The increase in order intake in the other industrial businesses included double-digit percentage growth in Smart Infrastructure. Sales revenue remained almost at the previous year's level; a decline in the automation businesses of Digital Industries was almost offset by growth in the three other industrial businesses. Smart Infrastructure recorded the highest increase. Currency translation effects held back the development of incoming orders and sales revenue by one percentage point each. Earnings in the Industrial Business were almost at the previous year's level, as a decline in earnings at Digital Industries, due to its automation businesses, was almost offset by earnings growth at Siemens Healthineers and Smart Infrastructure.