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.
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At Portfolio Companies, incoming orders remained below Q2 FY 2023 due to a lower volume from larger orders at Siemens Logistics; the sales revenue trend was largely attributable to Innomotics. Earnings and profit margin remained solid despite negative currency effects, with Innomotics making the largest contribution. As of Q3 FY 2024, Innomotics will be reported as discontinued operations due to the expected sale of the business; the transaction is expected to close in FY 2025.