Siemens Energy Ag · XETR:ENR
Siemens Energy — Q1 2025 Earnings Presentation
24 slides from Siemens Energy's earnings presentation, Feb 12, 2025
Slide 1: Strong start to the year – capitalizing on favorable market trends
Strong start to the year – capitalizing on favorable market trends Christian Bruch, President and CEO Siemens Energy Maria Ferraro, CFO Siemens Energy Analyst presentation Q1 FY25 Berlin, February 12, 2025 Siemens Energy is a trademark licensed by Siemens AG. Unrestricted © Siemens Energy, 2025 | An
Slide 2: Disclaimer
Disclaimer INFORMATION AND FORWARD-LOOKING STATEMENTS This document contains statements related to our future business and financial performance, and future events or developments involving Siemens Energy that may constitute forward-looking statements. These statements may be identified by words suc
Slide 3: CEO section
CEO section Christian Bruch Siemens Energy is a trademark licensed by Siemens AG. Unrestricted © Siemens Energy, 2025 | Analyst Call | Q1 FY25 3
Slide 4: Strong start to the year – capitalizing on favorable market trends
Strong start to the year – capitalizing on favorable market trends Q1 FY25 Highlights Q1 FY25 Financials FY25 Outlook Performance Revenue • Strong revenue growth €8.9bn (+18.4% yoy1) 8 – 10%1 • 270bps margin improvement • Very strong cashflow Profit margin before SI 5.4% (+270bps yoy) 3 – 5% Market
Slide 5: Favorable demand trends become more broad-based
Favorable demand trends become more broad-based Orders received in Q1 FY25 (in €bn) Broad-based demand Broad-based demand growth across GS, GT across GS, GT, TI and and TI SG 13.7 EMEA 6.9 (down 32% yoy) therein Germany 1.2 (down 77% yoy) Americas 5.2 (up 59% yoy) therein U.S. 3.9 (up 62% yoy) Succe
Slide 6: Record order backlog with high service share provides strong visibility
Record order backlog with high service share provides strong visibility Expected revenue generation from order backlog (in €bn) 131 ~93% ~66% Resilient service share2 27 48% Order backlog FY25e1 FY26e after FY26e Dec. 2024 x% of respective year revenues GS TI GT SG 1 expected backlog conversion Q2 t
Slide 7: Securing growth, driving profitability and enhancing portfolio
Securing growth, driving profitability and enhancing portfolio Securing growth Driving profitability Enhancing portfolio North America Siemens Energy Gas Services Expansion of blade and vane Pricing environment remains Partnership with SSE to develop factory in Tampa supporting gas favorable across
Slide 8: Key initiatives taken to stay on track and to meet sustainability targets
Key initiatives taken to stay on track and to meet sustainability targets Climate- 100% green Downstream Upstream Gender Zero neutral electricity emissions emissions equality harm in own operations in own operations 28% reduction of GHG reduction of emissions 25% women in top Total Recordable by 203
Slide 9: Zero harm is our number one priority
Zero harm is our number one priority TRIR1 12% reduction in FY24 9% reduction in Q1 Actions • Zero Harm engagements and regular eye on safety reviews • Global stand downs based on lessons learned • Continuous improvement cycle with systematic global workflows 1 Total recordable injury rate; 12-month
Slide 10: CFO section
CFO section Maria Ferraro Siemens Energy is a trademark licensed by Siemens AG. Unrestricted © Siemens Energy, 2025 | Analyst Call | Q1 FY25 10
Slide 11: Strong revenue growth and significant margin expansion – Q1 FY25
Siemens Energy Group Strong revenue growth and significant margin expansion – Q1 FY25 Orders Revenue Profit before SI in €bn in €bn in €m (10)%1 Service New Units 2.7% 5.4% 15.4 13.7 +18%1 8.9 7.6 +131% 3.3 481 2.9 208 4.8 5.6 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Free cash flow3 Order bac
Slide 12: FY25 outlook and FY28 targets are underpinned by a record order backlog
FY25 outlook and FY28 targets are underpinned by a record order backlog Order Backlog Backlog project margin in €bn +35%1 131 +1 pp +2 pp 123 112 97 +1 pp +2 pp +3 pp +3 pp (4) pp 0 pp FY22 FY23 FY24 Q1 FY25 FY22 FY23 FY24 GS TI GT SG 1 Growth (FY22-Q1 FY24) 2025-02-12 Siemens Energy is a trademark
Slide 13: Cash flow generation ahead of target
Cash flow generation ahead of target Q1 cash flow development Net cash as of December 31, 2024 in €bn in €bn S&P Rating update (16/12/2024) In €m Q1 FY24 Q1 FY25 BBB-/outlook stable (vs. neg. before) Net income 1,582 252 8.0 Amortization, depreciation and impairments 361 370 0.7 Change in operating
Slide 14: Gas Services: Strong order growth and strong service business – Q1 FY25
Gas Services Strong order growth and strong service business – Q1 FY25 Orders Revenue Profit before SI in €bn in €bn in €m 11.7% 14.6% +25%1 5.0 4.1 +6%1 2.7 2.8 +32% 412 313 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Free cash flow3 Order backlog2 Q1 FY24: €42bn €49bn Book-to-bill Q1 FY24: 1.5
Slide 15: Grid Technologies: Strong revenue growth and margin expansion – Q1 FY25
Grid Technologies Strong revenue growth and margin expansion – Q1 FY25 Orders Revenue Profit before SI in €bn in €bn in €m 10.2% 12.5% (37)%1 8.2 5.1 +24%1 2.5 +45% 2.1 309 213 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Free cash flow3 Order backlog2 Q1 FY24: €28bn €36bn Book-to-bill Q1 FY24: 3
Slide 16: Transformation of Industry: Strong revenue growth drives profitability
Transformation of Industry Strong revenue growth drives profitability – Q1 FY25 Orders Revenue Profit before SI in €bn in €bn in €m 9.2% 11.8% (11)%1 +18%1 1.6 1.3 +50% 1.5 1.1 157 105 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Free cash flow3 Order backlog2 Q1 FY24: €7bn €8bn Book-to-bill Q1 F
Slide 17: Siemens Gamesa: Progress in line with expectations – Q1 FY25
Siemens Gamesa Progress in line with expectations – Q1 FY25 Orders Revenue Profit before SI in €bn in €bn in €m (20.8)% (15.5)% +52%1 +18%1 2.4 2.4 2.0 1.6 (424) (374) Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Order backlog2 Q1 FY24: €41bn €39bn Book-to-bill Q1 FY24: 0.77 1.01 Free cash flow3
Slide 18: Strong start to the year supports FY25 outlook
Strong start to the year supports FY25 outlook Q1 FY25 FY25 Outlook FY28 Targets Revenue Profit margin Revenue Profit margin Revenue Profit margin growth1 before SI2 growth1 before SI2 growth3 Gas Services 5.9% 14.6% 7 – 9% 10 – 12% LSD/MSD 12 – 14% Grid Technologies 24.0% 12.5% 23 – 25% 10 – 12% LD
Slide 19: On track to deliver FY25 outlook and FY28 targets
On track to deliver FY25 outlook and FY28 targets Attractive Strong demand for service and equipment drive orders, revenue, FY24 – FY28 profits and cash flow markets HSD/LDD Revenue growth1 Record order backlog with rising margin quality; high service share Resilient business model FY28 Investment i
Slide 20: We energize society
We energize society 2025-02-12 Siemens Energy is a trademark licensed by Siemens AG. Unrestricted © Siemens Energy, 2025 | Analyst Call | Q1 FY25 20
Slide 21: Q&A
Q&A Siemens Energy is a trademark licensed by Siemens AG. Unrestricted © Siemens Energy, 2025 | Analyst Call | Q1 FY25 21
Slide 22: Appendix
Appendix Siemens Energy is a trademark licensed by Siemens AG. Unrestricted © Siemens Energy, 2025 | Analyst Call | Q1 FY25 22
Slide 23: Net income transition
Net income transition In €m Q1 FY24 Q1 FY25 Gas Service 320 409 Grid Technologies 173 305 Transformation of Industry 92 153 Siemens Gamesa (428) (423) Reconciliation to Siemens Energy 1,721 18 Profit 1,878 463 Profit margin 24.6% 5.2% Amortization of intangible assets acquired in business combinatio
Slide 24: Cash flow statement
Cash flow statement In €m Q1 FY24 Q1 FY25 Net income 1,582 252 Amortization, depreciation and impairments 361 370 Change in operating net working capital Contract assets 39 138 Inventories (658) (894) Trade receivables (198) (473) Trade payables (558) 484 Contract liabilities 1,147 2,117 Others (1,8