Quarterly Figures Q1/2026Siemens makes a strong Start to Fiscal Year 2026
Siemens raises its forecast for 2026 after a strong first quarter. Order intake and sales increased significantly, industrial earnings rose at a double-digit rate. The order backlog reached an all-time high of 120 billion euros.
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Free cash flow in the Industrial Business decreased to €1.0 billion (Q1 2025: €1.7 billion), mainly due to an increase in working capital, partly due to payments due for Mobility projects. Outside the Industrial Business, Siemens recorded a cash outflow of €0.4 billion in connection with the settlement of a disposal obligation for radioactive waste. Provisions for pensions and similar obligations remained low at €0.7 billion as at December 31, 2025.
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