Original buy-ins in 2020 were between €20 and €29 - then sold and bought again straight away to take advantage of the allowance and have been running ever since.

Not all times were good, but holding on was worth it. :-) It's amazing how the share is doing. Now I have to start thinking about whether I should take my stake out and just let the profits run.

Any opinions? :)

$ENR (-4,27 %)

The profit forecasts for the current financial year have risen for 21 of the 40 DAX companies.

According to research by Handelsblatt, analysts have raised their profit estimates for these 7 of the 40 DAX companies by at least five percent in the last three months.

Handelsblatt sheds light on the prospects of these seven companies and their shares with a view to their prospects: the development of earnings this year, the resulting changes in valuation - and how analysts are positioning themselves.

Below is a brief overview, details with further information can be found at "Handelsblatt"

$ENR (-4,27 %) The earnings forecasts for Siemens Energy shares are rising most rapidly

$DBK (+0,12 %) Deutsche Bank share: Rising profits cause valuation to fall sharply

For $QGEN Qiagen: Difficult times after the pandemic are over

$VNA (+0,26 %) Vonovia makes billions in profit after billions in losses

$ZAL (-1,25 %) Zalando: Takeover gives new share price potential

$MTX (-3,41 %) MTU: Global market leader generates stable earnings

$DTE (+0,67 %) Deutsche-Telekom: Unusually strong vote from analysts

Source / Graphics: Handelsblatt, 18.02.25

$ENR (-4,27 %) The share is currently up 200%.

Question with a view to the figures?

1 sell

2 partial sell

3 hold

I decided to invest in Siemens Energy because the company plays a central role in the global energy transition. With a clear focus on sustainable energy sources and innovative technologies, Siemens Energy has the potential to benefit from the increasing demand for green energy and the decarbonization of industry. Its strong market position and expertise in energy technology offer long-term growth potential. I see the company as a solid opportunity to benefit from the transformation of the energy industry. $ENR (-4,27 %)

Hello,

I currently have 5000€ that I would like to invest in individual stocks. I am following a core satellite strategy and as I am still young and in training, I am a bit more risk-averse (hence the relatively small core of 50%).

I would like to invest in stable growth stocks on the one hand, but also take a little more risk on the other.

My current plan would look something like this:

500€ $NU (-11,11 %) (came across Nu through the community)

700€ $NOVO B (+5,32 %) (upgrade to 1000€)

1000€ $GOOGL (-2,28 %) (stable outperformance of the market)

1000€ $ASML (-0,72 %) (monopoly position and good future prospects)

1000€ $CRWD (-6,19 %) /$PLTR (-3,33 %) / $SNOW (-3,37 %) (some of the stocks have done very well, so I'm a little unsure exactly which ones and whether I'm still waiting for a correction in the respective stock. But I find cybersecurity, cloud and big data very interesting with a lot of future potential)

I am also watching, for example: $SOFI (-4,68 %) , $SHOP (-5,86 %) , $MELI (-4,31 %) , $ENR (-4,27 %) .

If you have any suggestions for improvement or ideas as to which companies could benefit my strategy, I am open to them. Perhaps also expand other existing positions

Thank you very much#

This morning on 13.01. Siemens AG has published $SIE (-0,45 %) published its figures for Q1 - 2025. Enclosed you will find my comprehensive classification of the annual report [1] and also the transcript of the earnings call [2].

• As always, I try to write as clearly as possible. I have made every effort to check all data carefully and to support all statements with sources.
• Current share in my portfolio after getquin Deepdive at just under 2.5%, also as an individual share.

📅 First of all, the context: Why is Q1 2025 already being reported?

Siemens has a different financial year that begins on October 1. This means that Q1 covers the period from October 1 to December 31, 2024 in fiscal year 2025.

Q1 - 2025 vs. estimates

[3]

Overview: Good figures with some challenges

Siemens was able to slightly increase its revenue in the first quarter of 2025, with profit even growing by over 50%. One important reason for this is a special gain from the sale of Innomotics, a former Siemens subsidiary for drive technology [1].

The most important figures at a glance:

• Turnover+3% to €18.4 billion
• Incoming orders: -7 % to € 20.1 billion
• Profit after tax: +52% to € 3.9 billion (incl. special effect - excluded from EBIT above*1)
• Free cash flow: +51% to € 1.6 billion

👉 Without the special effect from the Innomotics sale (€ 2.1 billion profit), the profit would have been significantly lower [1].

Profit from continuing operations in Q1 2025 amounted to € 1.801 billion and in Q1 2024 the figure was € 2.569 billion. This corresponds to a decrease of 30 % [1].

Classification of the decline in profit compared to the previous year:

1️⃣ Q1 2024 had a one-time positive effect of €500 million from the transfer of Siemens Energy shares to the Siemens Pension Trust. This effect will no longer apply in 2025.

2️⃣ Digital Industries recorded a significant decline in profits, primarily due to the fall in sales in the automation business (-24%).

3️⃣ Additional restructuring costs had a negative impact on earnings.

👉 Without the positive one-off effect from 2024, the decline would not have been quite as severe, but the difficult situation at Digital Industries still had a clear impact [1].

Another highlight: The order backlog reached a new record of €118 billion, even though incoming orders fell in Q1 [2]. - 118 billion € - insane! 🤯

How does the decline compare to the record?

Siemens has many large long-term orders that are not processed immediately. Even if fewer new orders come in during a quarter, the total number of open orders remains high [1].

Why has order intake fallen?

The decline is partly due to the fact that particularly large Mobility orders were concluded in the previous year. At the same time, macroeconomic uncertainties and a weaker willingness to invest in Europe and China are influencing order intake [2].

🏷️ What is behind the sale of Innomotics?

Innomotics was a Siemens subsidiary for large electric motors, drives and industrial drive systems, important for sectors such as energy, chemicals and infrastructure. Siemens sold the business because it no longer fitted in with its core business.

• The sale generated €3.1 billion in liquidity, which strengthened Siemens' financial position.
• The resulting special gain of €2.1 billion after tax significantly raises the profit for this quarter.

The Siemens Groups at a glance

Share of total sales:

• Digital Industries: 22,1%
• Smart Infrastructure: 28,8%
• Mobility: 16,2%
• Siemens Healthineers: 29,9%
• Siemens Financial Services: 0,5%

Reconciliation & Other: 2,5%

-> includes consolidation adjustments and intercompany effects

📊 Digital Industries (Automation & Software)

What does this area do?

Siemens is a global leader in industrial automation and software for factories. This involves robot control systems, production software and automation solutions for the automotive, pharmaceutical and electronics industries, for example.

Incoming orders+6 % to € 4.2 billion

Turnover: -11% to € 4.1 billion

Earnings: -34% to € 588 million

Why are things going badly?

Although automation is seen as the industry of the future, there is currently a decline in sales due to low capacity utilization and destocking by customers.

Factory automation is particularly affected with a decline of -24% (e.g. for mechanical engineering or semiconductors).

Customers have invested massively in recent years and are now reducing inventories, which partly explains the lack of sales, but at the same time customers are placing new orders for the period after the existing inventories have been reduced [2]

The software business (+15%) is also generating new orders and is growing strongly, even though representative sales in the automation sector are declining [2].

However, China is showing initial signs of recovery, which could help in the medium term.

🏡 Smart Infrastructure (energy & building technology)

What does this area do?

It's all about energy supply, building automation and infrastructure. Siemens helps companies to work more efficiently and sustainably, from smart buildings to energy grid feed-in.

Known products/services:

• Charging stations for electric cars
• Building management systems for smart office buildings
• Switchgear for power grids

Incoming orders+6 % to € 6.2 billion

Turnover: +10 % to € 5.3 billion

EarningsStable at € 891 million

👉 Demand for data center infrastructure and energy solutions was particularly strong -> USA (+17%) and Middle East particularly strong [2].

🚆 Mobility (railroad & transport infrastructure)

What does this sector do?

Siemens builds and maintains trains, rail infrastructure and signaling technology. This is about fast, efficient and sustainable mobility systems.

Well-known products/services:

• ICE trains for Deutsche Bahn
• Metro systems for major cities
• Digital interlockings for railroad lines

Incoming orders: -53 % to € 2.7 billion

Turnover+10 % to € 3.0 billion

EarningsStable at € 249 million

Why have incoming orders fallen so sharply?

👉 The same quarter of the previous year contained huge major orders, e.g. for the railroads in Germany & Austria.

👉 There will still be orders in 2025, but not on this scale - a purely statistical effect.

🏥 Siemens Healthineers $SHL (+0,45 %)
(medical technology)*2

What does this division do?

Siemens is a leader in medical and diagnostic technology. The company supplies imaging systems, laboratory diagnostics and digital health solutions.

Known products/services:

• MRI & CT devices for hospitals
• Laboratory diagnostics for blood tests & cancer research
• AI-supported diagnostic software

Incoming orders+13 % to € 6.3 billion

Turnover: +6 % to € 5.5 billion

Earnings: +14 % to € 789 million

👉 The Imaging business (MRI & CT) is doing particularly well.

💰 Siemens Financial Services (Finance Division)

What does this division do?

Siemens offers leasing and financing services, e.g. for companies that want to modernize their infrastructure.

Known products/services:

• Leasing for medical technology
• Project financing for renewable energies
• Industrial investments

ResultDecrease from € 260 million to € 113 million

Why this decline?

👉 In the same quarter of the previous year, Siemens sold an investment that generated a one-off profit of €131 million.

Without this one-off effect, earnings would have remained stable.

Conclusion:

• Siemens Healthineers is the largest division, accounting for just under 30% of total sales.

• Smart Infrastructure (Energy & Building Automation) follows with 28.8%, driven by high demand in the USA.

• Digital Industries (Automation & Software) contributes 22.1%, but is struggling with weak demand in factory automation.

• Mobility (Trains & Infrastructure) accounts for 16.2%, but is suffering from the sharp decline in order intake.

• Siemens Financial Services remains a small but profitable division (0.5% share of sales)

🍃 Indirect connection to Siemens Energy $ENR (-4,27 %)

Siemens still holds a minority stake in Siemens Energy, but has transferred parts of it to Siemens Pension-Trust e.V. This resulted in a one-off profit of €500 million in Q1 2024, which increased Siemens' earnings at the time [4].

👉 This year, this effect is missing. Siemens Energy also remains challenging: the wind power business (Gamesa) is struggling with production problems and anti-dumping duties [5].

Anti-dumping duty in the USA:

The USA recently (28/01/25) imposed an anti-dumping duty of 28.55% on wind tower components from Siemens Gamesa and Windar Renovables. This affects components manufactured in Spain and could affect Siemens Gamesa's competitiveness in the important US market [5].

🤝 Altair takeover: Siemens strengthens its software business

With the acquisition of Altair Engineering for around 10 billion US dollars, Siemens has taken a significant step towards strengthening its software & AI portfolio.

• Altair represents a significant expansion in the area of simulation technologies and machine learning and is expected to support Siemens in further expanding its position as a leading provider of industrial software.
• This acquisition is part of Siemens' strategy to drive digital transformation and create the most comprehensive AI-powered design and simulation portfolio in the world [6].

Prospects
Altair acquisition

• The acquisition is expected to increase Siemens' digital business revenue by €600 million and have a long-term positive impact of over one billion dollars annually [6].
• This strategic investment is expected to accelerate the digital and sustainable transformation of Siemens' customers by connecting the real and digital worlds.
• The acquisition process is still under regulatory review and could be completed by the end of 2025.

📌 AI & Industry 4.0: Siemens remains a pioneer [2]

Siemens is actively driving the introduction of industrial AI:

• Use of digital twins & AI to increase efficiency (e.g. Red Bull Racing, smart factories in Erlangen & Chengdu).
• Acquisition of Altair to strengthen the software business.
• Major projects such as Jet Zero (AI-supported aircraft design to reduce fuel consumption).

[7]

📌 Sustainability & decarbonization [2]

Siemens actively helps customers to reduce their CO₂ emissions:

• Products from 2024 save over 144 million tons of CO₂ over their lifetime.
• Own CO₂ emissions already reduced by 60% since 2019, target for 2025 achieved ahead of schedule.

🔮Outlook for 2025 [2]:

• Macroeconomic uncertainties remain, but Siemens confirms 3-7% sales growth.
• The order backlog provides stability, but growth also depends on industrial automation.
• AI & software as growth drivers, especially with Altair.
• Siemens focuses on decarbonization to open up new business areas.

🧠Fazit: light and shade in the first quarter

Siemens got off to a strong start in the first quarter of 2025, driven by solid revenue growth and an impressive rise in profits thanks to the Innomotics sale.

Despite a decline in order intake, especially in areas such as Mobility, the order backlog remains robust.

The strategic acquisition of Altair and the focus on AI and industrial digitalization position Siemens very well for the future.

The company is also showing a clear focus on sustainability and decarbonization.

With a stable foundation and a positive outlook for 2025, Siemens remains on a promising growth path, even if macroeconomic uncertainties persist.

I am holding my position for the long term and am excited to see where the journey takes us.

Thank you for reading 🤝

• Which areas do you find most exciting?

_________

*1

(The discrepancy of approx. 260 million between EBIT + sale of Innomotics and profit after tax is primarily due to interest and tax expenses)

*2

Siemens Healthineers is a majority holding of Siemens AG. This means that Siemens still has control over Healthineers, but the company is listed independently on the stock exchange.

📌 Important facts about the relationship between Siemens and Siemens Healthineers:

• Spun off in 2017 & listed on the stock exchange in 2018, but Siemens still holds a majority stake of around 75%.
• Independent company with a focus on medical technology (MRI, CT, laboratory diagnostics, AI-supported healthcare solutions).
• Siemens Healthineers has its own financial reports & strategy, but most of the profits flow back to Siemens.

👉 In short: Siemens Healthineers operates independently, but Siemens continues to call the shots as the main shareholder and benefits financially from the company's success

_________

Sources:

[1] https://assets.new.siemens.com/siemens/assets/api/uuid:5977f44e-8153-4cf9-b47c-a7cc3846781b/2025-q1-earnings-release-de.pdf

[2] https://edge.media-server.com/mmc/p/cc7ttbkc/

[3] https://web.quartr.com/companies/3485

[4] https://press.siemens.com/global/en/pressrelease/siemens-transfers-8-percent-stake-siemens-energy-ag-siemens-pension-fund

https://press.siemens.com/global/en/pressrelease/earnings-release-and-financial-results-q1-fy-2024

[5] https://cincodias.elpais.com/companias/2025-02-10/ee-uu-fija-un-arancel-antidumping-del-2855-para-las-torres-eolicas-de-siemens-gamesa-y-windar.html

[6] https://m.focus.de/finanzen/boerse/uebernahme-als-meilenstein-siemens-verspricht-sich-von-altair-uebernahme-hunderten-millionen-euro_id_260442962.html

[7] https://assets.new.siemens.com/siemens/assets/api/uuid:e5bbbc23-01c9-4214-a050-0c671b3e9d6b/2025-q1-presentation-en.pdf

Hi everyone,

I myself am betting a lot on the American AI growth with data centers with stocks like $VRT (-7,34 %) , $VST (-7,68 %) .

Since I've read a lot recently that Europe is slowly waking up and spending money on its own data centers and Microsoft, for example, wants to build two new data centers in Germany, I wanted to start a discussion, which stocks do you think will benefit from this?

Which leading companies do we have in Europe itself? $ENR (-4,27 %) ?

Which US companies will also benefit from Europe?

What is your opinion?

Despite the threat of tariff conflicts $ENR (-4,27 %) the prospects in the USA remain good.

"We are seeing incredible growth momentum in the USA," says CEO Bruch. It is the largest electricity market in the world and many new power plants and data centers are being built here.

With the exception of Siemens Gamesa, business continues to go well.

For the full year, Siemens Energy continues to expect growth of eight to ten percent on a comparable basis and an operating margin before special effects of three to five percent. Siemens Gamesa remains the main problem with an expected loss before special items of around 1.3 billion euros.

Source: Handelsblatt

Super Micro Computer lowers revenue forecast for 2025 + Teamviewer aims for double-digit growth again + Siemens Energy confirms forecast + Weak device business weighs on Carl Zeiss Meditec

Super Micro Computer $SMCI (-5,06 %)sees higher Q2 results

• Super Micro Computer (SMCI) late Tuesday reported preliminary Q2 non-GAAP earnings of $0.58 to $0.60 per diluted share, up 5% from a year ago.
• Analysts polled by FactSet had expected $0.61.
• Preliminary net revenue for the quarter ended Dec. 31 was $5.6 billion to $5.7 billion, up 54% from the year-ago period.
• Analysts polled by FactSet had expected $5.77 billion.
• For Q3, the company expects non-GAAP earnings per share of $0.46 to $0.62 on revenue of $5 billion to $6 billion.
• Analysts surveyed by FactSet expect $0.65 billion and $5.92 billion, respectively.
• For fiscal 2025, the company now expects revenue of $23.5 billion to $25 billion compared to its previous guidance of $26 billion to $30 billion.
• Analysts surveyed by FactSet expect $24.11 billion.
• The company's shares rose 3.6% in after-hours trading.

Teamviewer $TMV (+1,21 %)wants to return to double-digit growth in the medium term

• The software provider Teamviewer intends to accelerate its growth again in the coming years by expanding IT automation and digitally transforming the industry.
• From 2027, the MDAX-listed company aims to return to double-digit percentage annual revenue growth, as the Göppingen-based company announced on Wednesday. By 2028, turnover is expected to climb above one billion euros.
• According to the plans of CEO Oliver Steil, the revenue share of large corporate customers in the so-called enterprise business should then grow to over 40 percent of total revenue, compared to less than a quarter in 2024.
• The higher profitability of the business is expected to increase the Group's adjusted operating margin (adjusted EBITDA) to between 44% and 45%.
• For the current year, the specialist for remote maintenance software has set itself the target of currency-adjusted revenue growth of 5.1% to 7.7%.
• This would correspond to pro forma sales of 778 to 797 million euros, compared to 740 million in the previous year.
• The pro forma figures are based on the assumption that the acquisition of 1E, which was completed at the end of January 2025, would have taken place at the beginning of 2024.
• Teamviewer in its current form is expected to generate revenue of EUR 697 million to EUR 712 million - analysts had previously assumed a figure at the lower end of the range on average.
• The pro-forma adjusted operating margin should be around 43% in 2025.
• Teamviewer had already presented key figures for 2024.
• Revenue increased by 7 percent to 671.4 million euros.
• The adjusted operating margin was 44 percent.
• Below the line, Teamviewer achieved a profit of 123.1 million euros after 114 million euros a year earlier.

Siemens Energy $ENR (-4,27 %)confirms forecast

• Following a robust first quarter, the energy technology group Siemens Energy has confirmed its forecast for the current fiscal year 2024/25.
• Comparable revenue is expected to increase by eight to ten percent in the fiscal year ending September 2025, the company announced on Wednesday when presenting detailed figures.
• The management expects the adjusted operating margin to be between three and five percent.
• The grid and gas technology businesses in particular are expected to contribute to this.
• The Munich-based company is still aiming for an after-tax profit of around the break-even point.
• In the first quarter (as of the end of December), Siemens Energy benefited from continued good business and increased sales year-on-year from 7.65 billion to 8.9 billion euros.
• The operating result adjusted for special effects increased from 208 to 481 million euros.
• The gas business made the largest contribution to earnings, followed by grid technology.
• The Group thus confirmed preliminary figures from the end of January.
• Although earnings after tax fell from 1.6 billion to 252 million euros, Siemens Energy had benefited in the same quarter of the previous year from the sale of shares in its Indian energy business to the former parent company Siemens.

Weak equipment business weighs on Carl Zeiss Meditec $AFX (-0,59 %)

• Continued weak demand, particularly in the equipment business, has overshadowed the start to the new fiscal year for medical technology provider Carl Zeiss Meditec.
• Thanks to the recent acquisition of Dutch Ophthalmic Research Center (D.O.R.C.), the company's revenue increased by a good 3 percent to around 491 million euros in the first three months of the financial year to the end of December.
• Adjusted for the acquisition and currency effects, however, there was a decline of 7 percent, the company announced in Jena on Wednesday.
• However, incoming orders and orders on hand increased significantly, according to the information provided, which has led to cautious optimism among management.
• The recovery in orders, coupled with a good response to the company's new products, "gives us confidence that we will return to solid organic growth in the coming months," said Group CEO Markus Weber.
• The management confirmed the targets for the year.
• These envisage moderate sales growth and a stable to slightly higher operating result (Ebita).
• However, this key figure fell significantly in the first quarter to 35.2 million euros, compared to 46 million euros in the previous year.

Wednesday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Exxon Mobil USD 0.99
• Target 1.12 USD
• Paccar USD 0.33

• Quarterly figures / company dates USA / Asia
• 08:30 Softbank Group quarterly figures
• 13:00 Kraft Heinz quarterly figures
• 22:00 Cisco Systems quarterly figures

• Quarterly figures / Company dates Europe
• 07:00 Carl Zeiss Meditec | Siemens Energy | Teamviewer | Essilor-Luxottica | Heidelberger Druckmaschinen | ABN Amro | Heineken quarterly figures
• 07:25 Telecom Italia preliminary annual results and strategy 2025-2027
• 07:30 Voestalpine 9 months results | Jenoptik preliminary annual results
• 07:45 Ahold Delhaize annual results
• 08:00 Verbio half-year figures
• 10:00 Deutsche Börse BI-PK | Voestalpine PK
• 10:30 Siemens Energy analyst and press conference
• 14:00 Verbio Analyst Conference
• 17:40 Michelin annual results

• Economic data

14:30 US: Consumer prices January PROGNOSE: +0.3% yoy/+2.9% yoy previous: +0.4% yoy/+2.9% yoy Core Consumer Prices PROGNOSE: +0.3% yoy/+3.1% yoy previous: +0.2% yoy/+3.2% yoy

14:30 US: Real income January

16:00 US: Fed Chairman Powell, hearing in the Financial Services Committee of the US House of Representatives

16:30 US: Crude oil inventory data (week) from the government Energy Information Administration (EIA) previous week

18:00 US: Fed Atlanta President Bostic, speech at National Association ofCorporate Directors (NACD)

18:30 UK: Governing Council member Nagel, speech on "r* in the monetary policy universe: navigational star or dark matter?"