Siemens Ends FY2024 with Gains in Revenues and Profits

Siemens ended FY2024 with solid results in the final quarter. The company reported growth in revenues and profits both in the fourth quarter and full year.

4Q24 saw a 2% rise in revenue and 10% in orders. On a nominal basis, orders grew 8%, to €22.9 billion, and revenue was up 1%, at €20.8 billion. Profit Industrial Business was strong at €3.1 billion, with a profit margin of 15.5%. Net income increased to €2.1 billion as corresponding basic earnings per share were €2.42.

In fiscal 2024 Siemens saw a 3% growth in comparable revenue to €75.9 billion, as comparable orders declined 4% to €84.1 billion. Profit Industrial Business increased slightly to €11.4 billion. At 15.5%, the profit margin of Industrial Business was at the very strong level of fiscal 2023. Net income reached a historic high of €9.0 billion.

“In another successful fiscal year, we delivered a 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,” said Roland Busch, President and CEO of Siemens.

“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,” concluded Busch.