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• Revenue increased in first quarter to €14.1 billion, orders surged to €15.9 billion
• Adjusted EBITA Industrial Businesses jumped 39 percent year-over-year to €2.1 billion and adjusted EBITA margin to 16.0 percent Q1 2020: 11.7 percent)
• Net income rose substantially to €1.5 billion (Q1 2020: €1.1 billion)
• Free cash flow improved significantly to €1.0 billion (Q1 2020: €44 million)
• Net income in 2021 expected to be between €5.0 billion and €5.5 billion

Siemens AG has started off fiscal 2021 with a strong first quarter. From October to December 2020, orders, revenue and net income considerably exceeded both the prior-year figures and market expectations despite the still complex macroeconomic environment due to the COVID-19 pandemic and despite negative currency translation effects. As a result, Siemens has significantly raised its annual guidance for fiscal 2021 at key points.

The full text of the press release can be found in the attached PDF.

This press release is available at https://sie.ag/2MMnlaE.

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