BERLIN (dpa-AFX) - Siemens Energy AG (SMEGF.PK) reported that its first quarter net income attributable to shareholders dropped to 198 million euros or 0.23 euros per share from last year's 1.55 billion euros or 1.78 euros per share.
In the previous year, special items featured a pre-tax gain from the sale of an 18% share in the centrally held stake in Siemens Limited, India. These special items totaled a negative 18 million euros, compared to a positive 1.670 billion euros in the first quarter of fiscal year 2024, related to disposals.
Revenue for the quarter grew to 8.942 billion euros from 7.649 billion euros in the prior year.
Orders for Siemens Energy reached 13.7 billion euros, falling short of the high level seen in the same quarter of the previous year, when Grid Technologies and Transformation of Industry recorded exceptionally high orders. The book-to-bill ratio (orders to revenue) was 1.53, resulting in a record order backlog of 131 billion euros.
Siemens Energy expects to achieve comparable revenue growth, excluding currency translation and portfolio effects, in fiscal year 2025 in a range of 8% to 10% and a Profit margin before Special items between 3% and 5%. It expects net income to be around break-even excluding assumed positive Special items subsequent to the demerger of the energy business from Siemens Limited, India.
Siemens Energy now expects that the company will exceed the current Free cash flow pre-tax guidance of up to 1 billion euros and therefore intends to update the Free cash flow pre-tax outlook for fiscal year 2025 with the half-year results for fiscal year 2025.
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