Siemens Energy Ag · XETR:ENR
Siemens Energy — Q1 FY2024 Earnings Presentation
21 slides from Siemens Energy's earnings presentation, Feb 7, 2024
Slide 1: Solid start to the year, turnaround of wind business remains focus
Solid start to the year, turnaround of wind business remains focus Press call Q1, fiscal year 2024 Berlin, February 7, 2024 Christian Bruch, President and CEO Siemens Energy AG Maria Ferraro, Chief Financial Officer Siemens Energy AG Siemens Energy is a trademark licensed by Siemens AG. © Siemens En
Slide 2: Information and forward-looking statements
Information and forward-looking statements This document contains statements related to our future business and financial This document includes supplemental financial measures – that are not clearly performance, and future events or developments involving Siemens Energy that defined in the applicab
Slide 3: Christian Bruch
Christian Bruch President and CEO Siemens Energy AG February 7, 2024 Siemens Energy is a trademark licensed by Siemens AG. © Siemens Energy, 2024 | Q1 Press Call 2024 3
Slide 4: Solid start to the fiscal year, expectations exceeded
Solid start to the fiscal year, expectations exceeded Market environment for Gas Services, Grid Technologies and Transformation of Industry remains positive. All three segments delivered a solid quarter. Market expectations were also exceeded due to project postponements during the year (common in p
Slide 5: Structured processing of topics in the wind business
Structured processing of topics in the wind business Technical investigation for onshore largely completed, definition of alternative solutions ongoing. Start of planning for implementation of measures. Estimate of quality costs remains valid. Start date for resumption of sales activities for 4.X an
Slide 6: Siemens Energy achieves important milestones
Siemens Energy achieves important milestones Agreement signed with banking consortium on guarantees and with the federal government on provision of counter-guarantees. Sale of 18% of shares in Siemens Limited, which is listed on the Indian stock exchange, has been completed; Siemens AG has acquired
Slide 7: Our contribution to the energy transition
Our contribution to the energy transition Reducing greenhouse gas Transport and emissions & energy consumption Power generation with low or zero emissions storage of energy in industrial processes Gas Services Siemens Gamesa Grid Technologies Transformation of Industry Gas Services Modernization of
Slide 8: Acceleration of the energy transition must increase
Acceleration of the energy transition must increase The fight against climate change remains the central task of our time; a turnaround in the energy landscape requires swift action from political leaders. Expansion of renewable energies needs to be accelerated. Largest expansion currently in China.
Slide 9: Maria Ferraro
Maria Ferraro Chief Financial Officer Siemens Energy AG February 7, 2024 Siemens Energy is a trademark licensed by Siemens AG. © Siemens Energy, 2024 | Q1 Press Call 2024 9
Slide 10: Siemens Energy Group in Q1 FY2024: Solid start into the year
Siemens Energy Group in Q1 FY2024 Solid start into the year Orders Revenue Profit before special items in €bn in €bn in €m Service +24% / +21%1 New Units +13% / +8%1 15,4 7.6 7.1 (4.0)% 2.7% 12,7 2,9 +10% 2,6 n/a 208 4,8 +7% 4,5 (282) Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Order backlog2 €1
Slide 11: Increasing order backlog as a source of strength and resilience
Increasing order backlog as a source of strength and resilience Book-to-Bill Q1 FY24 SE order backlog development (€bn) +40% • Large majority of FY24 revenue 1.53 118 already secured in the backlog GS 112 1.20 • Increase across all businesses 97 • Stronger growth in new units 84 57 supporting rejuve
Slide 12: Return to net cash position fuels strong liquidity position
Return to net cash position fuels strong liquidity position Net cash/(Net debt) as of December 31, 2023 (in €m) 5,293 645 S&P Rating update as per Nov 30, 2023: BBB- / outlook negative (vs stable before) Short and long-term debt includes lease 3,208 liabilities in the amount of €1.6bn 1,441 555 840
Slide 13: Gas Services in Q1 FY2024: In line with strong prior-year quarter
Gas Services in Q1 FY 20241 In line with strong prior-year quarter Orders Revenue Profit before special items in €bn in €bn in €m +13% / +9%2 12.6% 11.7% +11% /+4%2 4.1 3.8 (3)% 2.6 2.7 323 313 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Substantial order growth driven by Clear revenue increase
Slide 14: Grid Technologies in Q1 FY2024: Significant improvement across all KPIs
Grid Technologies in Q1 FY2024 1 Significant improvement across all KPIs Orders Revenue Profit before special items in €bn in €bn in €m +33% / +31%2 7.1% 10.2% +33% / +31%2 8.2 2.1 +87% 6.3 1.6 213 114 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Exceptional high orders driven by GT's Substantial
Slide 15: Transformation of Industry in Q1 FY2024: Profit almost doubled
Transformation of Industry in Q1 FY 20241 Profit almost doubled Orders Revenue Profit before special items in €bn in €bn in €m +39% / +36%2 5.7% 9.2% +18% / +15%2 1.6 1.1 +85% 1.2 1.0 105 57 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Sharp increase year-over-year driven by Double-digit increase
Slide 16: Siemens Gamesa in Q1 FY2024: Progressing in line with expectations
Siemens Gamesa in Q1 FY 2024 Progressing in line with expectations Orders Revenue Profit before special items in €bn in €bn in €m +1% / (3)%1 (37.8)% (20.9)% +5% / 2%1 1.6 1.6 n/a 2.0 2.0 (426) (759) Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Orders slightly above prior-year Revenue grew modera
Slide 17: Financial outlook confirmed
Financial outlook confirmed Fiscal year 2024 FY24 Outlook Revenue Profit Margin Growth1 before SI2 Gas Services (4) - 0% 9 - 11% Grid Technologies 18 - 22% 7 - 9% Transformation of Industry 8 - 12% 5 - 7% Siemens Gamesa 0 - 4% around neg. €2.0bn Siemens Energy 3 - 7% (2) - 1% up to €1bn Net income i
Slide 18: Christian Bruch
Christian Bruch President and CEO Siemens Energy AG February 7, 2024 Siemens Energy is a trademark licensed by Siemens AG. © Siemens Energy, 2024 | Q1 Press Call 2024 18
Slide 19: An open society is the basis for our work
An open society is the basis for our work At Siemens Energy, 97,000 people of more than 130 nationalities work worldwide to meet the energy needs in over 90 countries. International business creates jobs in Germany. 26,000 employees (≈27%) are employed here, but only ≈8% of sales are generated here.
Slide 20: Questions & Answers
Questions & Answers Christian Bruch and Maria Ferraro February 7, 2024 Siemens Energy is a trademark licensed by Siemens AG. © Siemens Energy, 2024 | Q1 Press Call 2024 20
Slide 21: Financial calendar 2024 and Press contact
Financial calendar 2024 February 26 May 8 August 7 November 13 Annual General 2nd quarter 3rd quarter 4th quarter FY 2024 Meeting FY 2024 FY 2024 Annual press conference Press contact Tim Proll-Gerwe Oliver Sachgau Head of Media Relations Press Spokesman Finances Mobile: +49 152 2283 5652 Mobile: +4