Siemens reported strong Q4 FY 2024 results, surpassing market expectations.
Takeaway Points
- Siemens reports strong Q4 FY 2024 results, surpassing market expectations.
- Orders rose 10 percent and revenue increased 2 percent in the fourth quarter on a comparable basis.
- On Nov 13, the Siemens AG Supervisory Board extended the contract of Matthias Rebellius.
Siemens Financial Results
Siemens on Thursday announced the financial results of fourth quarter 2024, stating that orders rose 10 percent and revenue increased 2 percent in the fourth quarter on a comparable basis, excluding currency translation and portfolio effects.
Net income increased to €2.1 billion; corresponding basic earnings per share (EPS) were €2.42 and EPS before purchase price allocation accounting (EPS pre PPA) were €2.57 and
Excellent cash generation resulted in €5.0 billion of free cash flow for the Siemens Group, the company said.
Roland Busch, President and Chief Executive Officer of Siemens AG, remarked, “In another successful fiscal year, we delivered record profit and stringently executed our strategy. In particular, we benefited from continuing strong demand for electrification, transportation and our industrial software offerings while our automation business remained challenging. Starting in fiscal 2025, we will take Siemens to the next level of value creation. We will continue to invest in R&D and M&A to secure faster growth based on our technological strengths and ability to scale across industries. Our planned acquisition of Altair reinforces our leadership in industrial software and AI. Our ability to combine the real and digital worlds is unmatched.”
Ralf P. Thomas, Chief Financial Officer of Siemens AG, said, “At €9.5 billion, we again achieved excellent Free cash flow in fiscal 2024. In addition, we are sticking to our path of stringent capital allocation by using our strong balance sheet as the basis for continuing our focused investments in profitable growth while generating attractive returns for the owners of our company. Our shareholders will benefit from the proposed increase of our dividend to €5.20 and from a corresponding dividend yield of 2.9 percent.”
Siemens AG Supervisory Board extends contract of Matthias Rebellius
On Nov 13, Siemens said that its Supervisory Board of Siemens AG has confirmed a contract extension for Matthias Rebellius from Sept 2025 for a one-year period, by mutual agreement. The extension provides Rebellius time to continue to build the performance trajectory of the smart infrastructure business while contributing to the transformation of Siemens.
Jim Hagemann Snabe, Chairman of the Supervisory Board of Siemens AG, remarked, “Matthias has led the Smart Infrastructure business to exceptional performance levels, with 15 consecutive quarters of profitability improvement. The business is now a strong pillar of Siemens. This extension means that Siemens can continue to benefit from his strong leadership, and he can actively support the ongoing company transformation.”
Roland Busch, President and CEO, said, “Matthias brings a steady hand, passion for customers and technology, and deep experience across markets and regions. We are fortunate that we will benefit from his contribution for another two years.”
The history of Matthias
According to the company, Matthias Rebellius joined the Siemens Graduate Program in 1988, starting with the industrial automation business in 1990 before moving to the building business in 2003. He was appointed to the Managing Board in October 2020 as CEO of Smart Infrastructure. He also has responsibility for supply chain management and the regional business in Canada, India, Switzerland, and the United Kingdom. Matthias is also a member of the Supervisory Board of Siemens Energy AG.
