Siemens reports net income of 2.2 billion euros for the second quarter of 2023-24, down sharply from 3.6 billion euros a year earlier, which had been inflated by an exceptional accounting gain.
On the operating front, however, profit from industrial activities fell only modestly, from 2.6 to 2.5 billion euros year-on-year, representing a margin down 0.2 points to 14%.
On a like-for-like basis, sales were virtually unchanged year-on-year at 19.2 billion euros, while orders fell by 12% to 20.5 billion, giving a book-to-bill ratio of 1.07.
With a record order backlog of 114 billion euros, the German industrial group confirms its annual targets, including like-for-like revenue growth of 4 to 8% and a book-to-bill ratio in excess of one.
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Siemens AG is one of the world's leading manufacturers of electronic and electro-technical equipments. Net sales (including intragroup) break down by family of products as follows:
- digital industrial equipment (28.2%): automated production, assembly, logistics and monitoring systems, etc.;
- medical equipment (27.8%): medical imaging systems, laboratory diagnostics and hearing aid systems, etc.;
- smart building and infrastructure solutions (25.6%): energy transition solutions, HVAC products (heating, ventilation and air conditioning systems), building security systems (fire detection and protection systems, access control, video surveillance and intrusion detection systems, etc.), building management systems, etc.;
- mobility solutions and systems (13.5%): rail vehicles, rail automation systems, rail electrification systems, digital and cloud-based solutions, etc.
The remaining net sales (4.9%) are primarily from financial activities (leasing, equipment and project financing, financial consulting services, etc.).
Net sales are distributed geographically as follows: Germany (16.3%), Europe/CIS/Africa/Middle East (30.8%), the United States (23.9%), America (5.2%), Asia and Australia (23.8%).
SIEMENS AG 
