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.
In the first quarter of fiscal year 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. Financing, consolidations and other items included a lower positive result at Group Treasury, primarily in connection with income from interest rate derivatives. Whereas Siemens Logistics, Siemens Energy Assets India and Innomotics India were previously reported under Portfolio Companies, they are now included in Financing, consolidations and other items.