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
Siemens Financial Services recorded a solid earnings contribution, with higher earnings from the debt financing business mainly due to lower expenses for loan loss provisions. In the third quarter of 2023, the investment business benefited from a gain of €57 million from the sale of a stake in an investment. The decrease in total assets is mainly due to negative currency translation effects.