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 “In the second quarter, Siemens continued its growth path and achieved strong operational performance. The rise in orders and revenue again reflects the trust our customers place in us to support digitalization, automation and sustainability. In an extremely challenging environment, our business continues to be strong,” said Roland Busch, President and Chief Executive Officer of Siemens AG. “We join the international community in condemning the war in Ukraine and are focused on supporting our people and providing humanitarian aid. Today, we announced our decision to carry out an orderly process to wind down our industrial business activities in Russia.” “With strong operating results and excellent free cash flow of €1.3 billion, Siemens’ second quarter underlines our execution capabilities and strength, even in the face of significant headwinds. The now tangible results of our portfolio optimization and ongoing mitigation of supply chain challenges allow us to look confidently into the second half of our fiscal year. As a result, we confirm our outlook,” said Ralf P. Thomas, Chief Financial Officer of Siemens AG.

• Orders for the second quarter climbed 32% year-over-year, reaching €21.0 billion on double-digit increases in all industrial businesses, while revenue rose 16% year-over-year, to €17.0 billion, for a book-to-bill ratio of 1.23
• Orders rose 22% and revenue grew 7% on a comparable basis, excluding currency translation and portfolio effects, primarily the acquisition of Varian Medical Systems, Inc. (Varian) between the periods under review
• Profit Industrial Business came in lower at €1.8 billion with a profit margin of 11.0%, both heavily burdened by €0.6 billion in impacts, mainly in Mobility, subsequent to sanctions imposed on Russia
• Net income was €1.2 billion, with corresponding basic earnings per share (EPS) of €1.29 and EPS before purchase price allocation accounting (EPS pre PPA) of €1.50; while net income in the current period included Russia-related impacts totaling €0.6 billion, the prior-year quarter benefited from a €0.9 billion divestment gain within discontinued operations
• Free cash flow from continuing and discontinued operations rose to €1.3 billion (Q2 FY 2021: €1.2 billion)

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

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