Orders climbed 11% on a comparable basis, excluding currency translation and portfolio effects, and revenue rose 9%.

On a nominal basis, orders increased 8% to EUR15.9 billion, driven by double-digit growth in Siemens Healthineers, and revenue rose 6%, to EUR14.7 billion, on growth in all industrial businesses; the book-to-bill ratio was 1.08

Adjusted EBITA Industrial Businesses was EUR2.1 billion, a 31% increase on strong performances in all Industrial Businesses, resulting in Adjusted EBITA margin Industrial Businesses of 15.1%

Net income and basic earnings per share (EPS) were sharply higher, at EUR2.4 billion and EUR2.82, respectively, on higher Adjusted EBITA Industrial Businesses, a EUR0.9 billion gain on the sale of Flender GmbH (Flender) within discontinued operations, and favorable effects outside Industrial Businesses; in Q2 FY 2020 net income of EUR0.7 billion and basic EPS of EUR0.80 included a loss of EUR0.3 billion from discontinued operations

Excellent Free cash flow from continuing and discontinued operations of EUR1.2 billion (Q2 FY 2020: EUR0.1 billion), including increases in all industrial businesses

As our order intake and revenue in the second quarter impressively demonstrate, our customers place great trust in us. We support them with their digital transformation, which enables them to become faster, more efficient and more sustainable. I'm extremely pleased that all our businesses are delivering excellent results and that we're growing profitably - despite continuing uncertainties. My thanks go to all the people at Siemens worldwide for their dedication and for always embracing a growth mindset.

Roland Busch, President and Chief Executive Officer of Siemens AG

The second quarter once again underscores Siemens' performance capabilities and reliability, especially under challenging conditions, which was reflected in all key financial figures. Growth momentum came, in particular, from the automotive industry, machine building, our software business and - from a geographic perspective - from China. Besides the gratifying margin developments at our Industrial Businesses, our successful portfolio management also paid off. In addition, Siemens has once again achieved excellent cash flow. On this basis, we are even more confident about the second half of our fiscal year and are raising our guidance significantly for both our Industrial Businesses and net income.

Ralf P. Thomas, Chief Financial Officer of Siemens AG Please read the complete Earnings Release and Financial Results:

Earnings Release Q2 FY 2021, January 1 to March 31, 2021: Excellent results across all businesses - Guidance raised again

Financial Publications are available for download at: www.siemens.com/ir

Outlook

Although we continue to anticipate a complex macroeconomic environment influenced by COVID-19, we expect our businesses to continue to deliver a strong performance in the second half of fiscal 2021. Furthermore, we realized substantial gains from portfolio transactions in the first half of the fiscal year. Therefore, we again raise our outlook for the fiscal year.

We continue to anticipate that negative currency effects will strongly burden both nominal growth rates in volume and Adjusted EBITA for our industrial businesses in fiscal 2021.

We now raise our expectation for comparable revenue, net of currency translation and portfolio effects, to growth of 9% to 11%, above the range of mid- to high-single-digit growth given in the Earnings Release for Q1 FY 2021. We continue to expect a book-to-bill ratio above 1.

Digital Industries now expects fiscal 2021 comparable revenue to grow in the range of 9% to 11% year-over-year. The expectation for Adjusted EBITA margin is now 20% to 21%, an increase of one percentage point.

Smart Infrastructure expects to achieve comparable revenue growth of 5% to 7% in fiscal 2021. The expectation for Adjusted EBITA margin is now 11% to 12%, an increase of half a percentage point.

Mobility continues to anticipate mid-single-digit comparable revenue growth and an Adjusted EBITA margin of 9.5% to 10.5% in fiscal 2021.

In line with the results already achieved during the first half of fiscal 2021 and the expectations described above, we raise our outlook for net income to the range from EUR5.7 to EUR6.2 billion, well above the previous expectation of net income in the range of EUR5.0 to EUR5.5 billion.

As previously, this outlook excludes burdens from legal and regulatory issues and effects in connection with Siemens Healthineers' acquisition of Varian Medical Systems, Inc.

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