Siemens quarterly figures: An overview
Strong software business compensates for weakness in automation
Siemens was able to increase revenue and profit in the third quarter of 2023/24 despite challenges in its core business of industrial automation technology. The strong software business and high demand for electrification solutions helped to offset this weakness.
Key facts and figures:
- Sales+5% to 18.9 billion euros
- Operating result: +11% to over 3 billion euros (margin of 16.5%)
- Incoming orders-15% to 19.8 billion euros (due to major orders from the previous year)
- Software business: +82% to 2.1 billion euros
- Digital Industries: Stagnating sales at 4.9 billion euros, but operating return on sales increased to 22.9%
Strategic adjustments
The Supervisory Board has extended the contract with Cedrik Neike, responsible for Digital Industries. Peter Körte was appointed to the Management Board with responsibility for the Xcelerator digital platform.
Opinion and outlook
Siemens is robust and well positioned, particularly thanks to its strong software business. However, the challenges in the automation sector remain and could continue into the next fiscal year. With the latest personnel decisions, Siemens is strengthening its management team and focusing on innovation and digitalization in order to remain competitive in the long term.
Developments in the automation sector and the performance of the Xcelerator digital platform must now be closely monitored, as these areas appear to be crucial to Siemens' future growth strategy.
Happy investing!
GG
Own position:
6 shares at CHF 141.13
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