Increased orders at Siemens Mobility

Siemens Mobility reported increased orders in Q3 FY 2019 reaching almost EUR 3 billion, representing a 18% increase compared to the similar period of 2018. Orders rose on higher volume from large orders, most notably a EUR 1.2 billion contract for high-speed trains including maintenance in Russia and a EUR 200 million order for trams in Germany. Q3 FY 2018 included a EUR 700 million rail infrastructure order, including service in Norway.
Company’s revenue reached EUR 2.12 billion.
Adjusted EBITA rose by 10.4% on increases in the majority of businesses, particularly including a strong contribution from the service business.
Siemens’ orders grew 8%, to EUR 24.5 billion, and revenue rose 4%, to EUR 21.3 billion, for a strong book-to-bill ratio of 1.15 and record high order backlog of EUR 144 billion. On a comparable basis, excluding currency translation and portfolio effects, orders increased 6% and revenue was up 2% compared to Q3 FY 2018.
Siemens AG conforms its financial expectations for fiscal 2019. It will continue to anticipate that orders will exceed revenue for a book-to-bill ratio above 1.
“Despite a significantly weaker environment in our key markets, we confirm our outlook for the year. As indicated already quite some time ago, geopolitics and geoeconomics are harming an otherwise positive investment sentiment. A robust mobility sector and stringent project execution will help us make good on our promises for the year,” said Joe Kaeser, President of Siemens AG.

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