Siemens' EPS increases 6% to €1.31 in its Q1

Wednesday, 05. February 2020 07:01

Siemens AG said on Wednesday that it reported net income of €1.1 billion in its first quarter of the fiscal 2020, which means the figure declined 3% year-on-year. Meanwhile, revenue from continuing operations increased by 1% to €20.3 billion, led mostly by industrial businesses and diluted earnings per share were up from €1.24 in the first quarter of the fiscal 2019 to €1.31 in the same quarter of the fiscal 2020.

Orders came in at €24.8 billion, declining 2%.

CEO Joe Kaeser stated: "After a powerful finish in fiscal 2019, the first quarter started slowly as expected. The weak performance across our energy businesses reinforces our priorities. We confirm our full-year guidance and will list Siemens Energy on the stock exchange in September as planned. This is a major milestone in positioning Siemens for the future."

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