Siemens Aktiengesellschaft · XETR:SIE
Siemens Aktiengesellschaft — Q3 2025 Earnings Presentation
28 slides from Siemens Aktiengesellschaft's earnings presentation, Aug 7, 2025
Slide 1: Robust results continue – Outlook confirmed
Robust results continue – Outlook confirmed Roland Busch, CEO Siemens AG Ralf P. Thomas, CFO Siemens AG Unrestricted | © Siemens 2025 | Investor Relations | Q3 Analyst Call | 2025-08-07
Slide 2: Notes and forward-looking statements
Notes and forward-looking statements This document contains statements related to our future business and at all or assumptions prove incorrect, actual results, performance or financial performance and future events or developments involving achievements of Siemens may (negatively or positively) var
Slide 3: Robust results in Q3
Robust results in Q3 Business highlights STRONG TOPLINE STRINGENT EXECUTION Book-to-bill at 1.28x IB margin at 14.9% • Backlog at €117bn • SI, MO, SHS with margin expansion • DI lower on tough comps in SW Orders up +28% to €24.7bn • IB profit of €2.8bn • Major contracts drive MO • SI close to PY lev
Slide 4: Shaping the future through stringent execution of ONE Tech Company program
Shaping the future through stringent execution of ONE Tech Company program INVESTMENT • Closing of Dotmatics acquisition to expand AI-powered SW-portfolio to Life Sciences • Acquisition of ebm-papst’s IDT business completed • Listing of Siemens Energy India • Opening high-tech train factory & servic
Slide 5: Siemens Xcelerator and vertical know-how drive customer value
Siemens Xcelerator and vertical know-how drive customer value AEROSPACE & DEFENSE PUBLIC BUILDINGS NORTHROP GRUMMAN FEDERAL GOVERNMENT Design & simulation Heritage building with of complex systems cutting-edge tech domain kno Renewal of long-standing al w Berlin State Library transformed collaborati
Slide 6: Scaling sustainability impact for customers
Scaling sustainability impact for customers Decarbonization & energy efficiency Resource efficiency & circularity Foundation of ethics & governance India – Freight locomotives Technology partnership EcoTech Label • First electric locomotive of 1,200 in total • Modular edge data center, engineered wi
Slide 7: Combining the real and digital worlds
Combining the real and digital worlds Continuing strong growth momentum with double-digit ARR growth Therein 68% DI SW – Annual Recurring Revenue (ARR) SaaS transition with high momentum new customers €bn # Customers (accumulated): +12%2) SME customers ~ 21,720 ~22,840 +15%1) ~20,130 4.6 4.5 4.9 ~18
Slide 8: Digital Industries (DI)
Digital Industries (DI) Automation recovery continuing, Software with very tough comps, free cash flow a stand-out Orders Revenue Profit margin Free cash flow €bn €bn €m -4%1) -10%1) -840bps +16% 17-23% 4.9 4.5 4.4 4.4 1,103 Excl. Altair 951 2.1 1.5 & Dotmatics 23.3% 16.1% 15.7% 2.8 2.9 22.9% 14.5%
Slide 9: Digital Industries (DI)
Digital Industries (DI) Marginal sequential order Q3 FY 25 – Key regions Orders Revenue Automation improvement in Q3; Orders up substantially y-o-y on easy comps; pace of recovery rather China +31% +19% Revenue up from low levels, sequential improvement muted due to the volatile Order momentum in co
Slide 10: Smart Infrastructure (SI)
Smart Infrastructure (SI) Strong revenue growth and record profitability, >€1bn free cash flow again a highlight Orders Revenue Profit margin Free cash flow €bn €bn €m -1%1) +9% 1) 6.0 5.7 +180bps 0% 5.4 5.7 16-20% 1.2 1,007 1,011 1.1 19.0% 17.2% 4.5 18.8% 4.3 17.0% 1.09 0.94 Q3 FY 24 Q3 FY 25 Q3 FY
Slide 11: Smart Infrastructure (SI)
Smart Infrastructure (SI) Strong orders from Q3 FY 25 – Key regions Orders Revenue Orders up DD in Electrification, lower large Electrification and data center orders in EP; U.S. 0% +12% Electrical Products base Revenue fueled by backlog execution, especially in Electrification business Orders drive
Slide 12: Mobility (MO)
Mobility (MO) Major orders, high-teens revenue growth and strong margin performance Orders Revenue Profit margin Free cash flow €bn €bn €m +240%1) 7.9 +19%1) +60bps 10 - 13% n/a 3.1 2.6 8.9% 9.5% -263 -115 0.6 2.4 0.5 8.7% 9.3% -0.40 2.1 2.5 -1.16 Q3 FY 24 Q3 FY 25 Q3 FY 24 Q3 FY 25 Q3 FY 24 Q3 FY 2
Slide 13: Below Industrial Business
Below Industrial Business Financing, Elimination, Others with several portfolio related effects Q3 FY 25 €m Tax Rate @ 23.1% 368 112 2,820 Minorities -18 -210 €197m -181 2,222 21 2,243 -668 • €154m gain from partial divestment of Airport Logistics • €121m effect from revised provisions for a legacy
Slide 14: Strong free cash flow performance clearly ahead over prior year
Strong free cash flow performance clearly ahead over prior year Highly confident to achieve double-digit FCF return for 6th year in a row FCF Industrial Business Q3 cash performance €bn +16% 6,842 • Strong contribution from businesses 5,913 0.69 0.65 1.07 • Cash outflows for tax payments €0.4bn lowe
Slide 15: Consistent cash generation underpins very strong balance sheet
Consistent cash generation underpins very strong balance sheet Sound basis for stringent capital allocation, balancing investments and shareholder returns Capital structure Financial strength Industrial net debt/ • Consistent strong cash generation in first nine EBITDA (c/o) months • Pension deficit
Slide 16: Outlook FY 2025 confirmed
Outlook FY 2025 confirmed Siemens Group Siemens Revenue growth Profit margin [Actuals YTD 9M FY 25] Businesses Comparable Digital Book-to-bill >1 Industries -6% – 1% 15% – 19% [1.16] [excl. Altair & Dotmatics effects] [-9%] [15.3%] Smart Revenue growth 3% – 7% Infrastructure 6% – 9% 17% – 18% Compar
Slide 17: Questions and Answers
Questions and Answers Page 17 Unrestricted | © Siemens 2025 | Investor Relations | Q3 Analyst Call | 2025-08-07
Slide 18: Appendix
Appendix Page 18 Unrestricted | © Siemens 2025 | Investor Relations | Q3 Analyst Call | 2025-08-07
Slide 19: Market recovery muted due to uncertain macro environment
Digital Industries (DI) Trends in vertical end market Vertical end markets Revenue Market trend1 Market trend1 Market recovery muted exposure Q2 FY 25 Q3 FY 25 due to uncertain macro environment Automotive 20% Machine Building 15% Pharma & Chemicals 10% Food & Beverage 10% Electronics & Semiconducto
Slide 20: Key verticals with consistent market trends
Smart Infrastructure (SI) Trends in vertical end markets Vertical end markets Revenue Market trend1 Market trend1 Key verticals with exposure Q2 FY 25 Q3 FY 25 consistent market trends Commercial Buildings 15% Data Center and Data Center 10% Power Utilities remain Public Sector / Education 10% growt
Slide 21: Financial Services
Financial Services: Strong FY 25 YTD performance on prior year level Earnings before Taxes (EBT) ROE: €m 20.1% 20.1% -2% 306 540 531 • Strong 9M performance of the equity business driven by a major gain from a sale in Q2 113 112 231 225 242 • Solid result of the debt business 9 2 Q1 FY 25 Q2 FY 25 Q
Slide 22: Order backlog as a source of strength and resilience
Order backlog as a source of strength and resilience Expected revenue generation from backlog Key developments €bn • Strong book-to-bill at 1.28 117 18 9 4 • Material negative currency translation effects DI 6 3 19 5 SI • Backlog at DI on normal levels 0 34 • Strong backlog level in systems, solutio
Slide 23: Decrease in Net Debt on strong operating cash flows
Decrease in Net Debt on strong operating cash flows – Capital Structure improves and continues to be well within target range Ind. Net Debt/ Operating Activities therein: EBITDA (c/o) €bn • Altair3) -0.6 1.0x • CAPEX -0.6 (Q2 FY25: 1.1x) • SFS -0.3 42.8 • Sale of stake in SE +0.2 40.6 13.7 therein:
Slide 24: Provisions for pensions remain stable on historic low level
Provisions for pensions remain stable on historic low level despite volatile market environment Q1 FY Q2 FY Q3 FY Q4 FY Q1 FY Q2 FY Q3 FY in €bn¹ FY 2022 FY 2023 2024 2024 2024 2024 2025 2025 2025 Defined benefit obligation (DBO)² -27.8 -26.6 -28.8 -28.3 -27.6 -28.4 -28.3 -27.2 -26.9 Fair value of p
Slide 25: Bondholders value strong Siemens rating and sound refinancing profile
Bondholders value strong Siemens rating and sound refinancing profile Total loan and bond debt of around €49.9bn Loan and bond maturity profile as of June 30, 2025 in EUR bn 6.4 6.2 Long Term Short Term Outlook Aa3 P-1 stable 4.8 4.0 Long Term Short Term Outlook 3.5 3.1 AA- A-1+ stable 2.9 2.0 2.0 1
Slide 26: 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 Q3 FY 25 9M FY 25 SHS EBIT (adjusted) 953 16.8% 2,757 16.2% PPA (SHS logic)1 -88 -271 Transaction, integration, retention, carve-out cost -13 -22 Gains and losses from divest
Slide 27: Outlook FY 2025 as presented by Siemens Healthineers on July 30, 2025
Outlook FY 2025 as presented by Siemens Healthineers on July 30, 2025 Page 27 Unrestricted | © Siemens 2025 | Investor Relations | Q3 Analyst Call | 2025-08-07
Slide 28: Financial calendar Investor Relations Contacts
Financial calendar August 7, 2025 September 3, 2025 September 23, 2025 November 13, 2025 December 9, 2025 Q3 Earnings Morgan Stanley Goldman Sachs / Q4 Earnings Capital Market Release Conference Berenberg Release Day (London) Conference (Munich) Investor Relations Contacts Tobias Atzler Nikola Petro
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