Investor Relations

Siemens Energy on track to meet full-year guidance including an improved cash outlook

• During the third quarter of the fiscal year, Siemens Energy continued to benefit from the energy transition, with record order intake at Gas Services and record order backlog in both Gas Services and Grid Technologies.
• Gas Services’ orders more than doubled year-over-year, orders of Siemens Energy overall decreased from a high level of comparison, mainly at Siemens Gamesa, and due to timing shifts at Grid Technologies. The decline was 29.6% on a comparable basis (excluding currency translation and portfolio effects) and orders came in with €10.4bn. The book-to-bill ratio (ratio of orders to revenue) remained above 1, driving the order backlog to another record high of €120bn.
•  Revenue grew by 18.5% on a comparable basis to €8.8bn with substantial growth at Grid Technologies, Transformation of Industry and Siemens Gamesa.
• Siemens Energy’s Profit before Special items again was positive with €49m (Q3 FY 2023: negative €2,048m). Prior-year’s quarter was heavily burdened by quality issues in Siemens Gamesa’s onshore business as well as increased product costs and ramp-up challenges in the offshore business. Special items were positive €69m (Q3 FY 2023: negative €41m) primarily related to the ongoing progress on disposals and the accelerated portfolio transformation. Profit for Siemens Energy came in at positive €119m (Q3 FY 2023: negative €2,089m).
• Siemens Energy reported a Net loss of €102m (Q3 FY 2023: €2,931m). Corresponding basic earnings per share (EPS) were negative €0.16 (Q3 FY 2023: negative €3.42).
• Free cash flow pre tax was €727m (Q3 FY 2023: €27m) with positive contributions by all segments except Siemens Gamesa which continued to be negative, as expected.
• Due to the good development in the first nine months, we now expect a positive Free cash flow pre tax in a range of €1.0bn to €1.5bn for the fiscal year (previously up to €1.0bn).

At today's virtual Annual Shareholders' Meeting of Siemens Energy AG, the shareholders approved all items on the agenda by a large majority. At its peak, 2,683 people followed the webcast of the Annual Shareholders' Meeting, with 60.57 per cent of the voting shares represented. For the first time, the entire Annual General Meeting was also broadcast on the Internet for non-shareholders. The Executive Board and the Chairman of the Supervisory Board, Joe Kaeser, answered a total of 198 questions from shareholders.

The entire press release is available here. 

Please find further information regarding our Annual General Meeting and the voting results here.