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.
In the first quarter of FY 2024, Siemens discontinued accounting for Siemens Energy using the equity method; the remaining interest is reported as a financial asset measured at fair value through other comprehensive income; in the second quarter of FY 2023, Siemens Energy's investment had benefited from a gain of €1.6 billion from the partial reversal of a previous impairment of Siemens Energy AG and a gain of €0.2 billion in connection with a capital increase. from the partial reversal of an earlier impairment of Siemens' stake in Siemens Energy AG and income of EUR 0.2 billion in connection with a capital increase at Siemens Energy AG.