Orders increased at Siemens Mobility Division

Siemens Mobility Division recorded an 8% increase in orders, representing EUR 2.5 billion, compared to EUR 2.3 billion over the third quarter of 2018. The company’s higher volume from large orders includes particularly EUR 0.7 billion from Siemens’ largest-ever rail infrastructure order including service, in Norway.
Division’s revenue increased by 4%, to EUR 2.1 billion. Revenue growth in the majority of businesses, is most notably in the rolling stock and related services businesses within the Europe/CAME region.
Siemens Mobility Division recorded a EUR 177 million profit in the third quarter of 2018, down from EUR 180 million (recorded in the same period of 2017).
In July 2018, shareholders of Alstom SA approved the proposed combination of Alstom with Siemens’ mobility business, including its rail traction drive business which is part of the
Division Process Industries and Drives. Closing of the transaction is subject to approval by antitrust authorities and is expected in the first half of calendar 2019.
Regarding Siemens AG financial results, in Q3 FY 2018, orders climbed 16% to EUR 22.8 billion driven by a higher volume from large orders, while revenue came in at EUR 20.5 billion, 4% lower than the prior-year quarter due primarily to currency translation effects.
“Our global team delivered a strong quarter, highlighted by outstanding order intake, outperforming the market. We diligently address our opportunities and challenges going forward,”said Joe Kaeser, President of Siemens AG.

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