Siemens (SIE) Q1 2025 (Media) earnings summary

Executive summary

• Q1 FY2025 revenue grew 3% to €18.4 billion, with a record order backlog of €118 billion and a book-to-bill ratio of 1.09, reflecting strong demand and future growth potential.

• Net income surged 52% to €3.9 billion, driven by a €2.1 billion after-tax gain from the Innomotics divestment.

• Free cash flow rose to €1.6 billion, supported by strong operational performance and portfolio actions, with Industrial Business free cash flow at €1.7 billion.

• Industrial Business profit reached €2.5 billion, with a margin of 14.1% and EPS pre PPA at €2.22, excluding the Innomotics gain.

• Sustainability progress included 144 million tons of customer CO₂e emissions avoided in FY24 and a 60% reduction in own operations since 2019.

Financial highlights

• Orders totaled €20.1 billion, down 7–8% year-over-year, but backlog remained at a record €118 billion.

• Revenue grew 3% year-over-year to €18.4 billion, driven by Smart Infrastructure, Mobility, and Healthineers.

• Industrial Business profit was €2.5 billion; net income reached €3.9 billion, up 52% year-over-year.

• Free cash flow was €1.6 billion, with liquidity strengthened by €3.1 billion proceeds from the Innomotics sale.

• Basic EPS before PPA was €2.22, and EPS pre PPA was €4.86, both excluding the Innomotics gain.

Outlook and guidance

• FY2025 outlook confirmed: comparable revenue growth of 3–7% and book-to-bill ratio above 1.

• EPS pre PPA expected at €10.40–€11.00, excluding the Innomotics gain.

• Digital Industries revenue expected to change between -6% and +1%, with a margin of 15–19%.

• Smart Infrastructure revenue growth expected at 6–9%, margin 17–18%.

• Mobility revenue growth expected at 8–10%, margin 8–10%.