Siemens Off to a Strong Start in Fiscal Year 2026

Siemens made a solid start to the 2026 financial year on the back of strong performance in the first quarter ending 31 December 2025. Following this performance, the company raised its guidance for basic earnings per share (EPS) before purchase price allocation accounting (PPA) from the EUR 10.40–11.00 range to the EUR 10.70–11.10 range. Siemens maintained its other projections for the financial year.

Siemens AG Chief Executive Officer Roland Busch noted that first-quarter results demonstrated successful implementation of the company's strategy, emphasizing that artificial intelligence has become an important growth factor for Siemens. Busch stated that the integration of industrial artificial intelligence into design, development, products and operations creates measurable value for customers.

Siemens AG Chief Financial Officer Ralf P. Thomas said that strong operational performance translated into high profitability, and that the accelerated share buyback program supports shareholder value creation.

Orders and revenue growth
Siemens' first-quarter orders, adjusted for currency effects and portfolio impacts, rose 10 percent to EUR 21.4 billion. Growth was driven primarily by the Smart Infrastructure division, which reached record order volume, as well as by Digital Industries and Mobility.

Revenue increased 8 percent to EUR 19.1 billion. The order-to-sales ratio was 1.12, while total order backlog reached a record EUR 120 billion at the end of the quarter.

Industrial business profit rose 15 percent to EUR 2.9 billion, with a profit margin of 15.6 percent.

Net profit and cash flow
Siemens' net profit was EUR 2.2 billion. The prior-year period had a higher base due to one-time gains from the sale of Innomotics.

Basic earnings per share before PPA came in at EUR 2.80. Excluding the Innomotics impact, significant growth was recorded compared with the same period of the prior year.

Group free cash flow was EUR 677 million. The decline was primarily driven by working capital timing in Mobility projects.

Divisional performance
Digital Industries recorded double-digit growth in orders and revenue. Orders rose 13 percent to EUR 4.8 billion, while revenue increased 10 percent to EUR 4.5 billion. Profit rose 37 percent to EUR 804 million while margin expanded to 17.8 percent.

Smart Infrastructure increased orders 22 percent to a record EUR 7.2 billion. Revenue reached EUR 5.5 billion, profit EUR 1.1 billion. Margin came in at 19 percent.

In Mobility, orders rose 10 percent to EUR 2.9 billion, while revenue increased 9 percent to EUR 3.2 billion. Profit was EUR 286 million with a margin of 9 percent.

Dividend to be voted
At the ordinary Annual Shareholders Meeting of Siemens AG, a proposal for a dividend distribution of EUR 5.35 per share for the 2025 financial year will be put to a vote. This amount continues the company's increasing dividend policy, exceeding the prior year.