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.
Digital Industries' order intake declined overall in a challenging market environment due to the continued increase in customer inventories, particularly in China. Order intake in the software business increased considerably, mainly due to the electronic design automation (EDA) software business in the USA. Higher sales revenue in the software business (mainly due to the EDA business) was outweighed by declines in the automation business, particularly for higher-margin products. In geographical terms, declines in incoming orders and sales revenue in the regions of Asia, Australia, primarily due to China, and Europe, CIS, Africa, Near and Middle East outweighed volume growth in the Americas. Earnings fell primarily due to lower capacity utilization as a result of declining sales revenue and a less favourable composition of product sales in the automation businesses.