Siemens Aktiengesellschaft · XETR:SIE
Siemens Aktiengesellschaft — Q1 2025 Earnings Presentation
26 slides from Siemens Aktiengesellschaft's earnings presentation, Feb 13, 2025
Slide 1: Promising first quarter generates positive momentum
Promising first quarter generates positive momentum Roland Busch, CEO Siemens AG Ralf P. Thomas, CFO Siemens AG Unrestricted | © Siemens 2025 | Investor Relations | Q1 Analyst Call | 2025-02-13
Slide 2: Notes and forward-looking statements
Notes and forward-looking statements This document contains statements related to our future business and or not at all or assumptions prove incorrect, actual results, performance or financial performance and future events or developments involving achievements of Siemens may (negatively or positive
Slide 3: Q1 Business highlights
Q1 Business highlights SOLID TOPLINE STRINGENT EXECUTION SHAPING THE FUTURE Healthy book-to-bill at 1.09 IB margin at 14.1% Leading in sustainability • IB profit of €2.5bn • 144 million tons customer avoided Orders down 8% to €20.1bn CO2e emissions in FY 2024 • SHS, DI & SI up; MO tough comps EPS pr
Slide 4: From vision to scale: Industrial AI and digital twin technology
From vision to scale: Creating real impact through innovations in Industrial AI and digital twin technology Industrial AI • ~100 companies use JetZero – Take a leap in air travel Siemens Industrial Copilot for operations • Converging data, AI and software-defined automation • Rapid, real-time decisi
Slide 5: Siemens Xcelerator and vertical know-how drive customer value
Siemens Xcelerator and vertical know-how building on long-term collaboration drive customer value HIGH-TECH PARTNERSHIP COMPASS ORACLE RED BULL RACING DATACENTERS High-speed design Scaling data center and simulation domain kno construction 20-year long technical al w Multi-year capacity agreement fo
Slide 6: DI SW – Annual Recurring Revenue (ARR)
Combining the real and digital worlds Continuing strong growth momentum with double digit ARR growth Therein 66% DI SW – Annual Recurring Revenue (ARR) SaaS transition with high momentum new customers €bn # Customers (accumulated): +14%1) SME customers ~20,130 +15%1) ~18,430 4.6 ~16,550 4.1 4.2 4.4
Slide 7: Digital Industries (DI)
Digital Industries (DI) Automation orders recovering with destocking in final stages; strong Software performance Orders Revenue Profit margin Free cash flow €bn €bn €m +6%1) -11% 1) +5% 4.6 4.0 4.2 4.1 -510bps 17-23% 606 638 1.2 1.4 19.8% 15.8% 3.4 2.7 19.6% 14.5% 0.68 1.08 Q1 FY 24 Q1 FY 25 Q1 FY
Slide 8: Digital Industries: Recovery of Automation orders gained some traction
Digital Industries (DI) Q1 FY 25 – Key regions Orders Revenue Recovery of Automation Orders up y-o-y on Automation orders very easy comps (PYQ -55%); China +14% -21% gained some traction Revenue still impacted by high distributor stock levels Orders sequentially up; Germany -3% -20% Revenue still im
Slide 9: Smart Infrastructure (SI)
Smart Infrastructure (SI) Strong growth and further operational margin expansion, free cash flow significantly improved Orders Revenue Profit margin Free cash flow €bn €bn therein 190bps €m +5%1) non- operational -140bps +8%1) effect +121% 5.8 6.2 16-20% 5.3 18.3% 4.8 640 1.1 1.2 18.5% 17.0% 16.4% 1
Slide 10: Smart Infrastructure: Order growth driven by large data center wins
Smart Infrastructure (SI) Q1 FY 25 – Key regions Orders Revenue Order growth driven Order strength with continued major data by large customer wins U.S. +9% +20% center wins; Revenue fueled by backlog execution in for data centers and Electrification & Electrical Products (EP) other major projects O
Slide 11: Mobility (MO)
Mobility (MO) Orders softer in line with expectation, clear revenue growth with margin in guided range Orders Revenue Profit margin Free cash flow €bn €bn €m -53%1) 5.6 +10%1) -90bps 10 - 13% n/a 2.7 3.0 9.4% -57 -271 0.5 8.6% 2.7 0.5 9.3% 8.4% 2.2 2.4 -0.23 -1.09 Q1 FY 24 Q1 FY 25 Q1 FY 24 Q1 FY 25
Slide 12: Below Industrial Business
Below Industrial Business SFS with solid performance; Innomotics divestment gain drives net income Q1 FY 25 Minorities €m €163m 2,067 3,868 Tax Rate @ 24% 2,517 113 73 -23 -129 -172 1,801 -580 Innomotics gain €2,072m Industrial SFS Governance Innovation Finance, PPA Tax Income Disc. Ops. Net Income
Slide 13: FCF "all in"
Consistent free cash flow performance with substantial improvement over prior year FCF Industrial Business Stringent working capital management €bn • Free cash flow improvement driven by SI and 0.47 0.84 0.83 1.60 0.69 SHS vs. PYQ 5.0 2.1 2.5 • Seasonal increase in operating working capital 1.3 1.7
Slide 14: Outlook FY 2025 confirmed
Outlook FY 2025 confirmed Siemens Siemens Revenue growth Profit margin Group Businesses Comparable Digital Book-to-bill >1 Industries -6% – 1% 15% – 19% Revenue growth Smart Comparable 3% – 7% Infrastructure 6% – 9% 17% – 18% €10.40– EPS pre PPA Mobility 8% – 10% 8% – 10% excl. Innomotics €11.00 Thi
Slide 15: Questions and Answers
Questions and Answers Page 15 Unrestricted | © Siemens 2025 | Investor Relations | Q1 Analyst Call | 2025-02-13
Slide 16: Appendix
Appendix Page 16 Unrestricted | © Siemens 2025 | Investor Relations | Q1 Analyst Call | 2025-02-13
Slide 17: Digital Industries: Vertical end market trends
Digital Industries (DI) Vertical end market trends Vertical end markets Revenue Market trend1 Market trend1 Still challenging macro exposure Q4 FY 24 Q1 FY 25 environment, however, first green shoots Automotive 20% emerging Machine Building 15% Pharma & Chemicals 10% Food & Beverage 10% Electronics
Slide 18: Smart Infrastructure: Vertical end market trends
Smart Infrastructure (SI) Vertical end market trends Vertical end markets Revenue Market trend1 Market trend1 Key verticals with exposure Q4 FY 24 Q1 FY 25 resilient market trends Commercial Buildings 15% Data Center and Power utilities Data Center 10% continue as growth Public Sector / Education 10
Slide 19: Siemens Financial Services (SFS)
Siemens Financial Services (SFS) Solid start to fiscal year 2025 Earnings Before Taxes (EBT) Q1 developments €m FY 2024: Q1 FY 2025: • Solid result of the Debt business RoE 17.6% RoE 13.3% • Previous year quarter result of the Equity business 260 was particularly high due to a gain on sale of a 149
Slide 20: Record backlog underpins growth aspirations
With backlog at record level, growth aspirations well underpinned for Siemens Expected revenue generation from backlog Key developments €bn • Sequential backlog increase driven by strong 118 37 book-to-bill >1 and currency translation effects DI 10 5 12 • Backlog in DI on normal levels, software SI
Slide 21: Net Debt bridge
Net Debt bridge: Further improvement of Capital Structure driven by proceeds from sale of Innomotics and strong operating cash flow Ind. Net Debt/ EBITDA (c/o) €bn Operating Activities therein: 0.4x • CAPEX -0.5 (Q4 FY24: 0.7x) • SFS +0.2 36.9 33.8 5.5 28.3 therein: therein: • ∆ Inventories -0.4 • I
Slide 22: Very strong balance sheet
Very strong balance sheet Basis for stringent capital allocation, balancing investments and shareholder returns Capital structure Financial strength Industrial net debt/ • Seasonally strong start for cash generation in Q1 EBITDA (c/o) • Pension deficit remained at historic low of €0.9bn • Significan
Slide 23: Provisions for pensions remain on historic low level
Provisions for pensions remain on historic low level Q FY 2020 – Pensions and similar obligations Q1 FY Q2 FY Q3 FY Q4 FY Q1 FY in €bn¹ FY 2022 FY 2023 2024 2024 2024 2024 2025 Defined benefit obligation (DBO)² -27.8 -26.6 -28.8 -28.3 -27.6 -28.4 -28.3 Fair value of plan assets² 25.9 25.5 27.7 27.9
Slide 24: Profit Bridge from SHS disclosure to SAG disclosure
Profit Bridge from SHS disclosure to SAG disclosure Different profit definitions at SHS and SAG to be considered in models €m Q1 FY 25 SHS EBIT (adjusted) 822 15.0% PPA (SHS logic)1 -91 Transaction, integration, retention, carve-out cost -4 Gains and losses from divestments 0 Severance -15 Expenses
Slide 25: Outlook FY 2025 as presented by Siemens Healthineers
Outlook FY 2025 as presented by Siemens Healthineers on February 6, 2025 Page 25 Unrestricted | © Siemens 2025 | Investor Relations | Q1 Analyst Call | 2025-02-13
Slide 26: Financial calendar and Investor Relations Contacts
Financial calendar February 13, 2025 March 10, 2025 March 11, 2025 March 19, 2025 April 2, 2025 May 15, 2025 Q1 Earnings Roadshow GER Roadshow CH Bank of America Hannover Fair Q2 Earnings Release and (Munich) (Zurich) Conference booth tours Release AGM (London) (Hannover) Investor Relations Contacts
Siemens Aktiengesellschaft — Q1 2025 Earnings Presentation on 6ix