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Earnings Release and Financial Results Q1 FY 2019: Strong orders continue into the new fiscal year
Orders increased 13% on a comparable basis, excluding currency translation and portfolio effects, and revenue grew 2% compared to Q1 FY 2018
On a nominal basis, orders rose 12%, to €25.2 billion and revenue was up 1%, to €20.1 billion; the book-to-bill ratio was 1.25
Adjusted EBITA for Industrial Business was lower, at €2.1 billion, due mainly to a decline in Power and Gas; Industrial Business Adjusted EBITA margin at 10.2%, held back by severance charges amounting to 0.4 percentage points
Net income came in at €1.1 billion, resulting in basic EPS of €1.26, which was burdened by €0.08 from severance charges; the change year-over-year is due to two substantial positive factors outside of Industrial Business in the prior-year period: a gain from the sale of shares in OSRAM Licht AG and sharply lower income tax expenses related to U.S. tax reform
"Our continued high order growth underlines the customer confidence in the performance of our company. There is still much to do before we achieve industry-leading margins in all our businesses."
Orders increased 13% on a comparable basis, excluding currency translation and portfolio effects, and revenue grew 2% compared to Q1 FY 2018
On a nominal basis, orders rose 12%, to €25.2 billion and revenue was up 1%, to €20.1 billion; the book-to-bill ratio was 1.25
Adjusted EBITA for Industrial Business was lower, at €2.1 billion, due mainly to a decline in Power and Gas; Industrial Business Adjusted EBITA margin at 10.2%, held back by severance charges amounting to 0.4 percentage points
Net income came in at €1.1 billion, resulting in basic EPS of €1.26, which was burdened by €0.08 from severance charges; the change year-over-year is due to two substantial positive factors outside of Industrial Business in the prior-year period: a gain from the sale of shares in OSRAM Licht AG and sharply lower income tax expenses related to U.S. tax reform
"Our continued high order growth underlines the customer confidence in the performance of our company. There is still much to do before we achieve industry-leading margins in all our businesses."
Joe Kaeser, President and Chief Executive Officer of Siemens AG
Beginning with the first quarter of fiscal 2019, the rail traction drives business was transferred from the Process Industries and Drives Division to the Mobility Division. Prior-period amounts are presented on a comparable basis.