We released our first quarter financial results for the fiscal year 2021 on Febuary 2, 2021, at 07:00 AM CET. The Press Conference Call was broadcasted live.
Earnings Release Q1 FY 2021: Solid start into the new fiscal year
Press release 02 February 2021
Orders were at €7.4bn, substantially below the high basis of comparison in the first quarter of the prior year, driven by a sharp decline at Siemens Gamesa Renewable Energy (SGRE).
Revenue increased by 2.6% to €6.5bn, including negative currency translation effects. On a comparable basis (excluding currency translation and portfolio effects) revenue rose by nearly 8%.
Book-to-bill ratio (ratio of orders to revenue) was below the strong prior-year quarter, but clearly above 1, leading to an order backlog of €79bn, nearly unchanged to past fiscal year-end.
Adjusted EBITA was with €243m back in the positive range (Q1 FY 2020: negative €117m) as the prior-year quarter was impacted by substantial project-related effects, predominantly driven by SGRE. The recent quarter benefited from operational improvements driving lower costs however including positive temporary effects. Adjusted EBITA before special items increased to €366m with a margin of 5.6%. In the recent quarter, special items came in at negative €123m.
Net income sharply improved to €99m after a loss in the prior-year quarter. Basic earnings per share (EPS) rose to €0.09.
Management confirms the outlook for fiscal year 2021.
Siemens Energy details plans to improve competitiveness
Press release 02 February 2021
Employee representatives have been informed about the proposed steps aimed at improving the company’s long-term competitiveness
In addition to reducing non personnel costs, Siemens Energy plans to reduce current global workforce until 2025 by about 7,800 jobs in its Gas and Power segment
Non-recurring costs associated with the proposed job reductions will amount cumulatively to a mid to high triple digit million euro in line with previous guidance
Guidance overall for fiscal year 2021 remains unchanged
