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Siemens, a leading technology sector company, announced substantial growth in third-quarter profits, maintaining its full-year forecast despite a mixed performance across its divisions. For the quarter ending June 30, Siemens achieved net income of €2.13 billion, a 48% increase compared to the previous year. Revenues rose by 5% to €18.9 billion, driven by strong performance in Smart Infrastructure, where demand for AI-driven data centers and energy solutions remains robust
The company's industrial business saw an 11% year-on-year rise in profits, reaching €3.03 billion, surpassing the market expectation of €2.84 billion. This increase reflects the ongoing demand in electrification and a notable boost from Siemens' industrial software sector, which secured several large license contracts.
However, Siemens (LSE:0P6M) reported a 15% decline in orders to €19.78 billion. This drop was attributed to a weaker performance in the Mobility division, which faced challenging comparisons from the previous year. Despite increases in Digital Industries and Smart Infrastructure, the overall order volume was impacted by these factors. Additionally, the industrial automation sector encountered difficulties due to customers maintaining high stock levels.
Chief Executive Officer Roland Busch highlighted the company's profitable performance and the significant role of electrification and industrial software in driving results. Looking ahead, Siemens has reaffirmed its guidance for the year ending September 30, expecting comparable revenue growth of 4-8%.
In trading, Siemens shares experienced a slight decline of 0.3%, trading at €155.48 in Frankfurt.
