Earnings Release Q1 FY 2025

October 1 to December 31, 2024

Munich, Germany, February 12, 2025 – Siemens Energy today announced its results for the first quarter of fiscal year 2025 that ended Decem- ber 31, 2024.

Strong start to the year – capitalizing on favorable market trends

“Our strong first quarter reflects the market opportunities arising from the increasing demand for electricity. The strong cash flow was mainly driven by growth across all our businesses, advance payments and timing effects. Our focus lies still on profitable topline growth and technological leadership”, says Christian Bruch, President and CEO of Siemens Energy AG.

• Siemens Energy got off to a strong start to this new fiscal year. Demand for our products remained favorable and the strong order trends continued. The prior-year quarter’s figures for revenue, Profit before Special items and cash flow were clearly exceeded. All segments contributed to the improvements.
• Orders of Siemens Energy amounted to €13.7bn. As expected, this was below the high level of the prior-year quarter, in which Grid Technologies and Transformation of Industry had booked exceptionally high orders. Book-to-bill ratio (ratio of orders to revenue) was 1.53, leading to a record order backlog of €131bn.
• Revenue of €8.9bn increased by 18.4% on a comparable basis (excluding currency translation and portfolio effects) with all segments recording growth.
• Profit before Special items of Siemens Energy more than doubled year-over-year to €481m (Q1 FY 2024: €208m) again held back by results of Siemens Gamesa, but to a significantly lesser extent than in the prior-year quarter. Special items amounted to negative €18m (Q1 FY 2024: positive €1,670m, in connection with disposals). Siemens Energy’s Profit came in at €463m (Q1 FY 2024: €1,878m).
• Net income was €252m (Q1 FY 2024: €1,582m). Corresponding basic earnings per share were €0.23 (Q1 FY 2024: €1.79).
• Free cash flow pre tax was materially stronger than expected at positive €1,528m (Q1 FY 2024: negative €283m) driven by project advance payments and timing effects of customer payments. All segments contributed to the improvement.
• Based on the development in the first quarter, management now expects that Siemens Energy will exceed the current Free cash flow pre tax guidance of up to €1bn and therefore intends to update the Free cash flow pre tax outlook for fiscal year 2025 with the half-year results for fiscal year 2025.