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Robust performance in complicated times
Revenue was €14.2 billion, nearly level with the same quarter a year ago, as increases at Siemens Healthineers and Mobility offset a decline at Digital Industries; orders declined 8%, to €15.1 billion, on sharply lower volume from large orders at Mobility
On a comparable basis, excluding currency translation and portfolio effects, revenue declined 1% and orders came in 9% lower; the book-to-bill ratio of 1.06 remained well above one
Adjusted EBITA Industrial Businesses was significantly lower at €1.6 billion, with all industrial businesses showing effects from the COVID-19 pandemic; Adjusted EBITA margin Industrial Businesses of 12.1% was held back also by severance charges of €0.2 billion, taking 1.2 percentage points
Net income, including a loss of €0.3 billion from discontinued operations, was €0.7 billion compared to €1.9 billion in Q2 FY 2019, which benefited from income of €0.2 billion from discontinued operations as well as a lower tax rate; basic earnings per share (EPS) declined to €0.80
Given the current situation, we can no longer confirm our original guidance for fiscal 2020; for our new guidance, see page 5 of this document
The full text of the press release can be found in the attached PDF.
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