Siemens quarterly figures Q3-2024Siemens confirms forecast with a "but"
Siemens is struggling with a weakening automation market in the third quarter. The software business, on the other hand, is developing strongly. It remains to be seen whether this will continue after the switch to a SaaS model.
Siemens was also able to increase its turnover by 5% to €18.9 billion in the third quarter of the current fiscal year 2024 (Q3/2023: €18.1 billion). However, like many of its market competitors, the Munich-based company is also struggling with a weakening order intake. On a comparable basis, this fell by 15 percentage points to EUR 19.8 billion (Q3/2023: EUR 23.5 billion). The Group reported a profit after tax of EUR 2.1 billion. This corresponds to an increase of 48% (Q3/2023: EUR 1.4 billion). It should be noted here that the same quarter of the previous year had recorded a loss of EUR 0.6 billion in connection with the investment in Siemens Energy. At Group level, the free cash flow "all-in" amounted to EUR 2.1 billion and was therefore below that of the same period of the previous year (Q3/2023: EUR 3.0 billion). The order backlog amounted to EUR 113 billion in the third quarter, with a book-to-bill ratio of 1.05.