- Siemens press release (OTCPK:SIEGY): Q3 non-GAAP EPS of €2.66.
- Revenue amounted to €18.9 billion (+4.2% year-on-year). Third-quarter revenue increased by 5% on a like-for-like basis.
- On a nominal basis, revenues rose 4% to €18.9 billion; orders fell 16% to €19.8 billion, but outpaced revenues by a book-to-bill ratio of €1.2 billion. 1.05, and the backlog of orders remained at a high level of 113 billion euros.
- Industrial business profit increased by 11% to EUR 3.0 billion, and the profit margin reached 16.5%, which is significantly higher than the previous quarter.
- Prospects: “We confirm our expectations in the earnings statement for the second quarter of fiscal year 2024, with similar revenue growth for the Siemens Group and the expected Digital Industries profit margin at the lower end of the respective ranges and the expected Smart Infrastructure profit margin at the upper end of the range.”
- “For the Siemens Group, we expect similar revenue growth, excluding currency translation and portfolio effects, in the range of 4% to 8% and a book-to-bill ratio above 1.
- Digital Industries expects FY24 comparable revenue to be 8% to 4% lower than the prior year and a profit margin of 18% to 21%. Smart Infrastructure expects FY24 comparable revenue to grow 8% to 10% and a profit margin of 16% to 17%. Mobility expects FY24 comparable revenue to grow 8% to 11% and a profit margin of 8% to 10%.
- We expect the profitable growth of our industrial business overall to lead to an increase in underlying earnings per share from net income before purchase price allocation (earnings per share before the power purchase agreement) to a range of €10.40 to €11.00 in fiscal 2024, excluding a positive €0.61 per share from Siemens Energy Investment in the first quarter of fiscal 2024.
- Earnings per share before the PPA excluding Siemens Energy investments in fiscal 2023 amounted to EUR 9.93.
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