Siemens Q2 User Manual

Q2 – Robust performance in complicated times

Roland Busch, Deputy CEO

Ralf P. Thomas, CFO

Analyst Call, May 8, 2020

Unrestricted © Siemens 2020	siemens.com

Notes and forward-looking statements

This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to, those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks of the Annual Report, and in the Half-year Financial Report, which should be read in conjunction with the Annual Report. Should one or more of these risks or uncertainties materialize, events of force majeure, such as pandemics, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forwardlooking statements in light of developments which differ from those anticipated.

This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.

Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

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May 8, 2020

Q2 FY 2020 Analyst Call

Our agenda for today

Covid-19 impact & Executing Vision 2020+

Q2 FY 2020 Financials

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May 8, 2020

Q2 FY 2020 Analyst Call

Covid-19 update: Operations up and running near normal levels Successful crisis management – Siemens with proven track record

Covid-19 - Where we are

We take social responsibility to fight Covid-19

▪Priority #1: Employee health & safety

▪Crisis proven leadership team and highly engaged employees

▪Reliable partner with strong balance sheet, liquidity & rating

Operations up and running near normal levels

▪Demand highly uncertain

▪Global supply chains stressed

▪24 factory sites closed, mainly in India

▪~7.4k employees in short time work

▪Further cost out initiated

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May 8, 2020

Siemens smart clinic		Covid-19 tests
for Colombia		released by

Covid-19 aid fund

Ramp up ventilator production in UK

Q2 FY 2020 Analyst Call

Covid-19 impact not yet fully visible in FY Q2

Orders		Revenue		IB Adj. EBITA
				margin
-9%		-1%		12.1%

EPS	Free Cash Flow (IB) Indust. ND/EBITDA

€0.80 €1.1bn 1.8x

Orders and Revenue growth comparable

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May 8, 2020

Q2 FY 2020 Analyst Call

Siemens Energy on track for listing end of September

March		April		May		June		July		August		September
2020	2020		2020		2020		2020		2020		2020

Carve-out

finalized

Portfolio set-up defined

Brand name announced

Acquisition +8% SGRE stake

Leadership team in place Carve-out effective March 31 Siemens Energy in D/O

Note: In Q2-20 Siemens booked 3 LGT and 28 small turbines

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May 8, 2020

Today

Spin-off-

Report

Road-

show

Extraordinary	Capital
General Meeting	Market Day
(Jul 9)	(Sep 1)
	Prospectus Listing

Q2 FY 2020 Analyst Call

Resilient business portfolio – Ability to weather the storm

Digital Industries – €16.1bn

Software

25%

	Revenue
Service 7%	FY 2019
	63%
5%	Automation Products
Solutions

Mobility – €8.9bn

Service 14%

Revenue 42% Rolling Stock

FY 2019

Road & Rail

Infrastructure 44%

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May 8, 2020

Smart Infrastructure – €14.6bn

Solutions &		Products
Services
	38%	35%
		Revenue
		FY 2019

26%	Systems & Software

Resilient business portfolio

▪Healthy short- and long-cycle business mix

▪Balanced exposure to customer verticals

▪Leading digital offerings

▪Growing service and software share

▪Strong order backlog

Q2 FY 2020 Analyst Call

Competitiveness programs accelerated Contingency cost measures expanded

CMD 2019 View

Digital Industries Smart Infrastructure

Cost optimization Operating Companies

Global

Business

Services

Lean and effective governance

~ €320m		~ €300m
by FY 2023		by FY 2023
~ €160m		~ €150m
by FY 2021		by FY 2021

€90m by FY 2021

~€500m by FY 2023

~€300m by FY 2021

Updated View Q2 FY 20

Digital Industries Smart Infrastructure

~ €320m		~ €300 m
by FY 2023		by FY 2023
~ €295m		~ €180m
by FY 2021		by FY 2021

€90m by FY 2021

~€500m by FY 2023

~€300m by FY 2021

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May 8, 2020

€50m to be delivered by Siemens Energy

Q2 FY 2020 Analyst Call