Read: 294
Article ## Second Quarter Results FY 2024 - Siemens AG's Financial Report
Siemens AG, a global leader in technology and engineering solutions, released its second quarter results for fiscal year 2024 on May 16, 2024. The comprehensive financial report was shared during two live events: the Press Conference Call and the Analyst Call. These calls were broadcasted to ensure transparency and accessibility for all stakeholders.
Webcast and Conference Call Recap
The webcast of the event allowed individuals worldwide to tune in and listen as Siemens CEO Roland Busch and CFO Ralf P. Thomas provided insights into the quarter's performance. The conference call offered an in-depth analysis through a dedicated platform where participants could ask questions directly related to the fiscal results.
Recording Access
To accommodate those who couldn't att live, recordings of both the webcast and the conference call are now avlable online for review at any time.
Fiscal Year Highlights
Revenue: The revenue for the quarter was nearly consistent when comparing agnst the same period in 2023, with adjustments made to account for currency fluctuations and portfolio impacts Q2 FY 2024: €19.2 billion; Q2 FY 2023: €19.4 billion.
Comparable Orders: The comparable orders were down by approximately 12 compared to the strong performance in the previous quarter, which had been marked by exceptionally high volume from significant large-scale projects within Mobility.
Performance Summary
On a comparable basis, Siemens' second-quarter revenue remned stable year-over-year at €19.2 billion, with total orders decreasing by 12. This performance aligns with expectations set out in the company's strategic roadmap for fiscal year 2024.
Strategic Move: Innomotics Sale
In a notable corporate move, Siemens announced that it would be selling its business unit Innomotics to KPS Capital Partners for €3.5 billion. The transaction underscores Siemens' commitment to focusing on core business areas while strategically divesting non-core assets.
Outlook and Future Prospects
Despite the challenges presented by the economic environment, Siemens remns optimistic about its future performance, mntning its fiscal year 2024 outlook as communicated earlier in the year.
Contact Information for Investors and Media
For investors seeking additional information or financial analysts looking to delve deeper into Siemens' strategic initiatives and market impact, detled resources including press releases, presentations, and speeches from Roland Busch and Ralf P. Thomas are avlable on the company's website at www.siemens.comanalystcall.
In summary, Siemens AG's second quarter of fiscal year 2024 witnessed a steady performance with revenue matching that of the previous year when adjusted for currency impacts and portfolio effects. This period also marked strategic corporate actions, including the divestiture of Innomotics to KPS Capital Partners, which is expected to support the company's focus on core business areas.
This article is reproduced from: https://press.siemens.com/global/en/event/second-quarter-results-fy-2024
Please indicate when reprinting from: https://www.i466.com/Financial_and_financial_stocks/Siemens_2Q_FY2024_Results.html
Siemens Q2 FY 2024 Revenue Overview Innomotics Business Unit Sale Details Comparable Orders Decline by 12 Strategic Outlook for Fiscal Year 2024 Siemens CEO Roland Buschs Remarks Analyst Call Recording Access Information