Siemens (SIE) Q1 2025 (Media) earnings summary

Executive summary

• Q1 FY2025 revenue grew 3% year-over-year 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 momentum.

• Industrial business profit reached €2.5 billion with a margin of 14.1%, and EPS before PPA was €2.22, excluding the Innomotics gain.

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

• Free cash flow was strong at €1.6 billion, supported by operational performance and portfolio actions; Industrial Business free cash flow reached €1.7 billion.

• Sustainability progress included a 60% reduction in operational CO2 emissions since 2019 and 144 million tons of customer CO₂e emissions avoided in FY24.

Financial highlights

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

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

• Industrial business profit was €2.5 billion; EPS before PPA was €2.22, excluding Innomotics gain.

• Free cash flow reached €1.6 billion; Industrial Business free cash flow was €1.7 billion.

• Net income was significantly boosted by a €2.1 billion gain from the Innomotics divestment.

Outlook and guidance

• FY2025 guidance confirmed, with expected comparable revenue growth of 3–7% and book-to-bill ratio above 1.

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

• Digital Industries: revenue change (6)% to 1%, margin 15–19%.

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

• Mobility: revenue growth 8–10%, margin 8–10%.