Despite the clear impact of the COVID-19 pandemic, Siemens AG performed solidly in the second quarter of fiscal 2020. Revenue remained nearly unchanged, while net income declined to €697 million compared to the strong prior-year quarter. Orders were down primarily due to a lower volume from major orders at Siemens Mobility year-over-year. In view of the current situation, Siemens will no longer confirm its original guidance for fiscal 2020. Nonetheless, the company sees itself well positioned both operationally and strategically for the coming quarters. Implementation of Siemens’ Vision 2020+ strategy is right on track, and the company is making faster progress than expected in achieving its cost targets.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. Through the separately managed companies Siemens Energy, the global energy business of Siemens, and Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the energy systems of today and tomorrow as well as the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy (as part of Siemens Energy), Siemens is also a world-leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. In fiscal 2019, which ended on September 30, 2019, Siemens generated revenue of €86.8 billion and net income of €5.6 billion. At the end of September 2019, the company had around 385,000 employees worldwide. Further information is available on the Internet www.siemens.com.
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