The result of the industrial business fell by 4 percent to 2.75 billion euros, while analysts had expected a slight increase to 2.9 billion euros on average. Sales grew by 6 (comparable: 10) percent to 18.9 billion euros, but also fell short of the consensus forecast of 19.3 billion euros.
After taxes, the technology group posted a profit of 1.4 billion euros, as it announced in Munich. It was reduced by a proportionate loss of 0.6 billion euros, which resulted from the participation of the recently heavily loss-making energy group Siemens Energy.
Siemens confirmed the forecast for the group, but dampened expectations in the particularly high-margin area with factory automation, which had been raised in May. Digital Industries will only grow by 13 to 15 percent this year, instead of 17 to 20 percent as recently targeted. Siemens also reduced the margin for the business by half a percentage point. Digital Industries is starting to feel that customer ordering behavior is normalizing, especially in China. In the third quarter, new business fell 35 percent on a like-for-like basis and revenue growth slowed to 11 percent. “We see a normalization of demand, especially in China and in the short-cycle business,” said CEO Roland Busch.
Group-wide, Siemens continues to expect comparable sales growth of 9 to 11 percent and earnings per share before purchase price allocations and Siemens Energy participation of 9.60 to 9.90 euros.
Siemens share weak – market is targeting digital industries
The development of Siemens’ Digital Industries division disappointed traders and analysts on Thursday. For the Siemens papers, XETRA trading ultimately fell by 4.79 percent to EUR 139.46.
Siemens confirmed the forecast for the year, but was more pessimistic for the Digital Industries division. This should continue to weigh on shares, a trader said in the morning.
Siemens is delivering 28 Mireo trains to Stuttgart – an order volume of 300 million euros
Siemens Mobility is supplying the regional trains for the “Digital Node Stuttgart” pilot project. A total of 28 three-car Mireo trains designed for semi-automated driving would be delivered between the end of 2025 and spring 2026, as Siemens announced. Including a ten-year maintenance contract, the order from the Baden-Württemberg State Agency for Rail Vehicles (SFBW) is worth 300 million euros. The trains are controlled digitally and run independently, but a driver is on board to monitor the journey and intervene if necessary. With the new technology, closer cycle sequences in train traffic should be possible.
Two years ago, Alstom was awarded the contract by the state of Baden-Württemberg to retrofit the existing train fleet in the Stuttgart area. The Siemens Mireo trains will initially be used to keep passenger operations running as smoothly as possible during this upgrade.
FRANKFURT (Dow Jones) / FRANKFURT (dpa-AFX)
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