Slide 1: Strong fourth quarter completes successful fiscal 2024
Strong fourth quarter completes successful fiscal 2024 Roland Busch, CEO Siemens AG Ralf P. Thomas, CFO Siemens AG Unrestricted | © Siemens 2024 | Investor Relations | Q4 Analyst Call | 2024-11-14
Slide 2: Notes and forward-looking statements
Notes and forward-looking statements This document contains statements related to our future business and financial Siemens neither intends, nor assumes any obligation, to update or revise these performance and future events or developments involving Siemens that may forward-looking statements in li
Slide 3: Key topics
Key topics 1 Successful performance in FY 2024 2 Next level of value creation – ONE Tech Company 3 Outlook FY 2025 Page 3 Unrestricted | © Siemens 2024 | Investor Relations | Q4 Analyst Call | 2024-11-14
Slide 4: Siemens Group FY 2024: Successful performance
Siemens Group FY 2024: Successful performance - EPS on record level, excellent free cash flow Orders Revenue €bn -4% €bn +3% 89.4 84.1 74.9 75.9 Book- to-bill 1.11 FY 2023 FY 2024 FY 2023 FY 2024 IB Profit and Margin Free cash flow EPS pre PPA excl. SE Investment €bn €bn +1% +6% -5% Record high 11.3
Slide 5: Siemens Businesses
Siemens Businesses Smart Infrastructure with all-time high performance Comparable FY 2024 Profit margin revenue growth Digital Industries -8% 18.9% [-8 – -4%] [18 – 21%] Record high Smart Infrastructure 9% 17.3% [8 – 10%] [16 – 17%] Mobility 9% 8.9% [8 – 11%] [8 – 10%] Note: [ ] Outlook as of Q3 FY
Slide 6: Siemens Group – well balanced footprint across geographies
Siemens Group – well balanced footprint across geographies U.S. gaining in relative weight over prior year Americas EMEA Asia Pacific Revenue USA Germany China €75.9bn (FY 24) 31% 26% [+2ppt] 46% 15% [-1ppt] 22% 11% [-1ppt] Factories >150 25% 48% 28% Purchasing volume ~€35bn (FY 24) 25% 54% 20% Note
Slide 7: Q4 Business highlights
Q4 Business highlights STRONG TOPLINE STRINGENT EXECUTION SHAPING THE FUTURE Orders up 10% to €22.9bn IB margin at 15.5% Growth driver digital business • Driven by MO & SI, DI lower y-o-y • IB profit of €3.1bn • Up 22% to €9bn (FY 24) • Strong book-to-bill at 1.1 • DI SW ARR up by +14% • Backlog at
Slide 8: ONE Tech Company
Accelerating transformation and strengthen Siemens to unlock the full potential as ONE Tech Company, combining the real and the digital worlds SECULAR DEMAND TRENDS driven by electrification, automation, digitalization & sustainability… … rapid changes in TECHNOLOGY and MARKETS provide opportunities
Slide 9: Siemens Xcelerator
Siemens Xcelerator Scaling our open digital business platform Leveraging our ecosystem Accelerating energy transition Digitalizing mobility Scaling Industrial AI Strengthen Gridscale X Launching Signaling X • Siemens Industrial Copilot together with • New product launches for Gridscale X • Seamless
Slide 10: Siemens Xcelerator and vertical know-how drive customer value
Siemens Xcelerator and vertical know-how drive customer value Sustainability impact through decarbonization, resource efficiency & people centricity SCIENCE & TECHNOLOGY HEALTHCARE MERCK KANTONSSPITAL BADEN Smart Smart hospital Manufacturing domain kno Customized IoT smart hospital Strategic partner
Slide 11: Accelerated growth for digital business well ahead of ambition
Accelerated growth for digital business well ahead of ambition driven by Siemens Xcelerator offerings and large software license deals Digital Business revenue¹ Priorities for FY 25 €bn CAGR +14% 9.0 7.3 6.5 5.3 5.6 Digital Industries Smart Infrastructure Mobility • Prepare for Altair • Additional f
Slide 12: DI SW – Annual Recurring Revenue (ARR)
Combining the real and digital worlds Cloud ARR share of 40% achieved one year ahead of schedule Therein 71% DI SW – Annual Recurring Revenue (ARR) SaaS transition with high momentum new customers €bn # Customers (accumulated): +14%1) ~18,430 +15%1) SME customers ~16,550 ~14,760 4.0 4.1 4.2 4.4 ~12,
Slide 13: Scaling sustainability impact for all stakeholders
Scaling sustainability impact for all stakeholders Resource efficiency Decarbonization Governance Global Battery Alliance Green Steel SBTi validation • Build battery passport ecosystem beyond • Industrial control cabinet series made with • Science Based Targets initiative validated regulatory compli
Slide 14: Stringent capital allocation in future growth fields
Stringent capital allocation in future growth fields creating business impact Scaling foundational technologies across all businesses Innovation investments as key lever… … to drive market leadership & profitable growth R&D intensity Foundational Technologies R&D in % at least on • Building common f
Slide 15: Bold move towards a leading technology company
Bold move towards a leading technology company based on Siemens' successful M&A track record in industrial software Boosting the most comprehensive digital twin Successful M&A strategy to form the #1 industrial software portfolio with full-suite simulation and AI portfolio Software Expansion strateg
Slide 16: Strengthening Siemens' position as a leading technology company
Besides strategic acquisition of Altair stringent optimization of portfolio Strengthening Siemens’ position as a leading technology company Strategic Acquisition Announced Q1-25 IDT Danfoss Bolt-on ebm-papst Fire Safety Acquisitions Announced Q2-24 Announced Q4-24 Announced Q1-25 FY 2024 FY 2025ff I
Slide 17: Digital Industries (DI)
Digital Industries (DI) Strong Software performance on tough comps, soft Automation business as expected Orders Revenue Profit margin Free cash flow €bn €bn €m -18%1) -6%1) 5.7 -790bps -20% 4.6 4.6 17-23% 1,292 4.3 1.6 1,036 1.7 25.3% 16.7% 4.0 16.2% 2.9 24.1% 0.95 1.40 Q4 FY 23 Q4 FY 24 Q4 FY 23 Q4
Slide 18: Digital Industries: Automation orders sequentially softer
Digital Industries (DI) Q4 FY 24 – Key regions Orders Revenue Automation orders Automation Orders stabilizing and up y-o-y on sequentially softer; very easy comps (PYQ -44%); China +11% -22% however, above trough Revenue still impacted by high distributor stock levels level of Q4 FY 23 Orders sequen
Slide 19: Digital Industries: Vertical end market trends
Digital Industries (DI) Vertical end market trends Vertical end markets Revenue Market trend1 Market trend1 Ongoing subdued exposure Q3 FY 24 Q4 FY 24 macro environment Automotive 20% Industrial end markets still show no upward Machine Building 15% momentum Pharma & Chemicals 10% Food & Beverage 10%
Slide 20: Smart Infrastructure (SI)
Smart Infrastructure (SI) Excellent trajectory of strong growth and margin expansion, free cash flow at all-time-high Orders Revenue Profit margin Free cash flow €bn €bn €m +14%1) +260bps 6.1 +9%1) +6% 5.4 11-16% 5.5 6.0 1,429 1,522 17.9% 1.2 1.2 15.3% 17.5% 4.4 4.7 14.9% 1.74 1.46 Q4 FY 23 Q4 FY 24
Slide 21: Smart Infrastructure: Order growth driven by data center wins
Smart Infrastructure (SI) Q4 FY 24 – Key regions Orders Revenue Order growth driven Order strength on tough comps with by large customer wins U.S. +6% +21% continued major data center wins; Strong backlog execution, Electrification for data centers and & Electrical Products driving revenue up other
Slide 22: 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 Q3 FY 24 Q4 FY 24 resilient market trends Commercial Buildings 15% Continuing Data Center strength; Public Sector / Education 10% Power Distribution Power Distrib
Slide 23: Mobility (MO)
Mobility (MO) Strong topline, industry leading profitability, extraordinarily strong finish for free cash flow Orders Revenue Profit margin Free cash flow €bn €bn €m +47%1) +100bps 10 - 13% +94% 4.6 +15%1) 3.3 1,148 3.2 2.9 9.4% 0.5 0.6 8.3% 9.0% 593 3.86 8.0% 2.4 2.7 2.56 Q4 FY 23 Q4 FY 24 Q4 FY 23
Slide 24: Below Industrial Business
Below Industrial Business SFS with consistent performance, strong operational performance drives net income Q4 FY 24 €m 3,120 97 -133 -181 2,176 2,115 -727 -61 Minorities €215m Tax Rate @ 25% IB SFS Other Below PPA Tax Income Cont. Ops Disc. Ops. Net Income IB items Note: Other Below IB items contai
Slide 25: Portfolio Companies – Stringent execution of mission
Portfolio Companies – Stringent execution of mission Streamlining Siemens – Successful divestments of non-core assets Divested POC assets creating >€7bn enterprise value, best owners found Closed FY 21 €2.0bn Mail & Parcel Logistics €1.1bn Closed Q1 FY 25 €3.5bn Closed FY 22 Closed FY 22 €0.3bn Comm
Slide 26: Free cash flow – Consistent performance on outstanding level
Free cash flow – Consistent performance on outstanding level Fifth year in a row free cash flow return on revenue well in double-digits FCF Industrial Business Stringent working capital management €bn +6% • Excellent cash conversion across all 10.3 10.9 businesses 0.47 0.84 0.83 1.60 5.0 • Substanti
Slide 27: Strong balance sheet
Strong balance sheet Basis for stringent capital allocation, balancing investments and shareholder returns Capital structure Financial strength Industrial net debt/ • Excellent cash generation on consistent high level EBITDA (c/o) • Pension deficit at new low of €0.9bn • Further deleveraging support
Slide 28: Dividend yield of 2.9%, share buyback program of up to €6bn
Stringent capital allocation for very attractive total shareholder returns Dividend yield of 2.9%1, current share buyback program of up to €6bn in execution Multi-year perspective: Progressive dividend development Siemens Energy €5.20 Spin-off 2 €4.25 €4.70 €3.50 €3.60 €3.70 €3.80 €3.90 €4.00 €3.00
Slide 29: Assumptions for FY 2025
Assumptions for FY 2025 Business • Moderate macroeconomic growth in fiscal 2025, no further increase of environment geopolitical tensions • R&D intensity at least on FY 2024 level OPEX • SG&A in % of revenue on similar level as in FY 2024 • Capex Ratio1) reflecting ongoing execution of capacity expa
Slide 30: Below Industrial Business: Further simplification in reporting
Below Industrial Business Further simplification in reporting Actuals FY 2024 FY 2025 – Expectations Profit IB 11,390 SFS 637 On FY 2024 level Governance -308 On FY 2024 level Innovation -187 ~-€0.5bn to -0.7bn, boost for foundational technologies & ONE Tech Company Financing, Elim., Other 1 443 Aro
Slide 31: Outlook FY 2025 Siemens Group
Outlook FY 2025 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 This outlook
Slide 32: Questions and Answers
Questions and Answers Page 32 Unrestricted | © Siemens 2024 | Investor Relations | Q4 Analyst Call | 2024-11-14
Slide 33: Appendix
Appendix Page 33 Unrestricted | © Siemens 2024 | Investor Relations | Q4 Analyst Call | 2024-11-14
Slide 34: Order backlog
Order backlog Growth aspirations well underpinned for Siemens Expected revenue generation from backlog Key developments €bn • Short-cycle product businesses in DI on normal 113 42 levels, Software backlog moderately up DI 9 6 13 • High backlog level in systems, solution and SI 18 11 service business
Slide 35: Financial Services: Strong performance in fiscal year 2024
Financial Services: Strong performance in fiscal year 2024 Key figures SFS total Therein: Debt Business Equity Business Return on Equity (after tax) 16.3% 17.6% 11.2% 12.1% 41.7% 42.8% Earnings before 563 637 399 taxes (€m) 362 201 243 Total assets (€bn) 32.9 32.8 30.5 30.6 2.1 2.0 FY23 FY24 FY23 FY
Slide 36: Net Debt bridge
Net Debt bridge Capital Structure remains rock solid Ind. Net Debt/ EBITDA (c/o) €bn Operating Activities therein: 0.7x • SFS -0.8 (Q3 FY24: 1.0x) • CAPEX -0.7 40.3 36.9 9.4 therein: therein: 27.5 • ∆ Inventories +1.0 • Share buyback -0.6 • ∆ Trade and other receivables -0.4 • Interest paid -0.3 • ∆
Slide 37: Siemens with sound refinancing profile
Siemens with sound refinancing profile Total loan and bond debt of around €44bn1) Loan and bond maturity profile as of September 30, 2024 in EUR bn 6.6 5.3 5.0 3.6 2.9 3.0 2.3 2.0 1.5 1.6 1.3 1.3 1.3 1.0 1.0 0.9 0.8 0.8 0.8 0.8 0.5 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2
Slide 38: Provisions for pensions minimized to record low
Provisions for pensions minimized to record low Decrease Q4 driven by set-up of innovative pension trust structure Q FY 2020 – Pensions and similar obligations FY FY Q1 FY Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY Q3 FY Q4 FY in €bn¹ 2021 2022 2023 2023 2023 2023 2024 2024 2024 2024 Defined benefit obligation (
Slide 39: Reconciliation FY EPS to EPS pre PPA
Reconciliation FY 24 EPS to EPS pre PPA €m / per share amounts in € All in Attributable to Attributable to EPS / EPS non-controlling shareholders of effect 4) interests Siemens AG Net income / EPS (all-in) 8,992 691 8,301 10.53 PPA 1) 747 882) 659 0.84 Tax effect 3) -165 -0.21 EPS pre PPA 11.15 Outl
Slide 40: 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 Q4 FY 24 FY 24 SHS EBIT (adjusted) 1,120 17.7% 3,510 15.7% PPA (SHS logic)1 -89 -375 Transaction, integration, retention, carve-out cost -8 -24 Gains and losses from divestme
Slide 41: Outlook FY 2025 as presented by Siemens Healthineers
Outlook FY 2025 as presented by Siemens Healthineers on November 6, 2024 Page 41 Unrestricted | © Siemens 2024 | Investor Relations | Q4 Analyst Call | 2024-11-14
Slide 42: Financial calendar and Investor Relations Contacts
Financial calendar November 14, 2024 November 14/15, 2024 November 20/21, 2024 November 26, 2024 November 27, 2024 December 12, 2024 Q4 Earnings Roadshow UK Roadshow US Roadshow FR Roadshow GER SI Capital Release (London) (Boston, (Paris) (Frankfurt) Market Event New York) (Zug) Investor Relations C