Robust performance in complicated times

»We delivered a robust quarter given the serious circumstances. I am particularly impressed with my team that we are able to keep the original timeline for the spin-off of our energy business. While we expect to reach the bottom in the third quarter of fiscal 2020, we continue to keep the health and safety of our partners and employees as our first priority, while maintaining business continuity as much as responsibly possible,« said Joe Kaeser, President and Chief Executive Officer of Siemens AG.


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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