During the Q4 FY 2019, Siemens Mobility orders increased by 16%, reaching EUR 12.9 billion, with a 1% increase in revenues, at a value of EUR 8.9 billion. The revenue growth was driven by double-digit increases in the rolling stock business, which ramped up large projects, and in the customer services business.
In Q4 2019, Siemens Mobility recorded a 36% decrease in orders, from EUR 2.8 billion in 2018, to EUR 1.8 billion. The company says that the sharply lower volume from large orders compared to Q4 FY 2018, included rolling stock orders amounting to EUR 600 million and EUR 400 million from Germany and Austria, respectively.
The Mobility division’s EBITA increased by 3.6% reaching over EUR 1 billion, and its EBIT rose from EUR 871 million (in 2018) to EUR 898 million. The Mobility division registered an increased profit, from EUR 958 million in 2018, to EUR 983 million. The adjusted EBITA and profitability were supported by higher revenue and also benefited from positive effects related to project execution and completion.
Economic cycles have limited impact on the markets for Mobility, which anticipates mid-single-digit comparable revenue growth in fiscal 2020 driven by its rolling stock business, which ramped up several large rail projects toward the end of fiscal 2019. Adjusted EBITA margin is expected at 10% to 11%.