Siemens Posts Excellent Results in the Third Fiscal Quarter

Siemens continued its growth trajectory across all businesses and regions in the third fiscal quarter. Despite the ongoing COVID-19 pandemic and negative currency translation effects, the period was characterized by market successes companywide and positive momentum provided by the global economic recovery.

Ongoing supply chain challenges associated primarily with electronics components, raw materials and rising raw materials prices were successfully mastered. Compared to the same period in 2020, Siemens achieved considerable double-digit growth in orders and revenue and nearly tripled net income. Due to its strong performance in the first nine months, Siemens is again raising its guidance for fiscal 2021 and now expects companywide revenue growth of 11 to 12 percent (previous guidance: 9 to 11 percent) on a comparable basis and net income of between €6.1 billion and €6.4 billion (previous guidance: €5.7 billion to €6.2 billion).

“Siemens is consistently pursuing its goal of accelerated high-value growth. In the third quarter, once again we delivered strong and profitable growth in all businesses,“ said Roland Busch, President and CEO of Siemens. “We’re successfully supporting our customers in their transformation through digitalization, automation and sustainability.“

“We are continuing the very positive business development of the first half of the year and are once again delivering strong results despite the continuing challenging environment. The strong performance of our focused technology company was demonstrated in the third quarter by double-digit revenue growth, increased profitability and another strong Free cash flow. Consequently, we are again raising our outlook for fiscal 2021,“ added Ralf P. Thomas, Siemens CFO.

In the third quarter of  2021, Siemens’ revenue increased substantially by 21 percent on a comparable basis to €16.1 billion, with considerable growth across all four Industrial Businesses and all regions. Orders surpassed the 20-billion mark to rise twice as fast as revenue. At €20.5 billion, orders grew by 44 percent on a comparable basis. Reaching 1.27, the book-to-bill ratio was excellent. Net income nearly tripled to €1.5 billion.