Siemens Confirms Solid Q2 Performance

Summary

Siemens has released its earnings from Q2 of fiscal year 2024. Second-quarter revenue was nearly unchanged from a year earlier on a comparable basis, excluding currency translation and portfolio effects.

“We continued to benefit from strong demand for digitalization and sustainability during our second quarter, particularly in the data center and semiconductor industries," said Roland Busch, president and CEO of Siemens AG. "Siemens proved its resilience with strong revenue performance in Smart Infrastructure, Mobility and industrial software; this nearly offset currently muted demand in Digital Industries’ automation business. With the right strategy, the right technologies and the right team, we are well positioned for profitable growth."

“With Innomotics, we have taken another significant step in optimizing our portfolio," said Ralf P. Thomas, CFO of Siemens AG. "Based on our solid performance in the first half of the fiscal year, a very strong balance sheet recognized by our latest rating upgrade, and our record order backlog, we look to the future with confidence as a leading technology company. We confirm our outlook for fiscal 2024."