1007-0016 New orders in the first quarter of fiscal 2024 reached 22.3 billion euros (1Q2023:22.6 billion euros), up 2% on a comparable basis
• Revenue increased 6% on a comparable basis to €18.4 billion (1QFY2023: €18.1 billion)
• Total Industrial Business profit reached €2.7 billion (1QFY2023: €2.7 billion) and physical business margin improved to 15.8% (1QFY2023:15.7%)
1007-0016 Group level free cash flow increased significantly from the same period last year to €1 billion (Q1 FY2023: €100 million)
• Net income increased 56% to €2.5 billion (Q1 FY2023: €1.6 billion)
• Confirmed guidance on performance targets for fiscal year 2024
• Siemens Online Annual General Meeting to decide on a proposed dividend of €4.70 per share for FY2023 (FY2022: €4.25)

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1007-0016 Siemens achieved a successful start with strong results in the first quarter of fiscal year 2024 (ending December 31, 2023). Physical profits reached €2.7 billion, with almost all physical profits increasing, setting a new record for the first quarter of the financial year. On this basis, Siemens confirms its guidance for fiscal year 2024. As Siemens announced in November 2023, the company will launch a new share repurchase program in the near future, which will complete a total share repurchase of up to 6 billion euros over a maximum period of five years.

1007-0016 “Once again, Siemens delivered an excellent quarter, maintaining profitable growth momentum. By deepening our partnership with Microsoft and Amazon Cloud Technologies, we are making AI easier to apply.” “Our customers look to Siemens as a trusted technology partner to support their digital transformation and sustainability,” said Roland Busch, Chairman, President and CEO of Siemens AG.

“Siemens’ free cash flow grew to €1 billion, well ahead of the same period last year. Going forward, we continue to maintain strong team execution capabilities and confirm our guidance for fiscal 2024.” Added Ralf P. Thomas, chief financial officer of Siemens AG.