Siemens Q2 User Manual
Q2 – Robust performance in complicated times
Roland Busch, Deputy CEO
Ralf P. Thomas, CFO
Analyst Call, May 8, 2020
siemens.comUnrestricted © Siemens 2020
Unrestricted © Siemens 2020
May 8, 2020Page 2 Q2 FY 2020 Analyst Call
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, 2020Page 3 Q2 FY 2020 Analyst Call
Our agenda for today
Q2 FY 2020 Financials
Covid-19 impact & Executing Vision 2020+
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May 8, 2020Page 4 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
▪ 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
We take social responsibility to fight Covid-19
Covid-19 aid fund
Ramp up ventilator
production in UK
Covid-19 tests
released by
Siemens smart clinic
for Colombia
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May 8, 2020Page 5 Q2 FY 2020 Analyst Call
Orders
Covid-19 impact not yet fully visible in FY Q2
Revenue IB Adj. EBITA
margin
Indust. ND/EBITDAFree Cash Flow (IB) EPS
-9% -1% 12.1%
€0.80 1.8x
Orders and Revenue growth comparable
€1.1bn
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May 8, 2020Page 6 Q2 FY 2020 Analyst Call
Siemens Energy on track for listing end of September
April
2020
May
2020
June
2020
July
2020
September
2020
Today
Spin-off-
Report
Extraordinary
General Meeting
(Jul 9)
Listing
Brand name announced
Carve-out effective March 31
Road-
show
Portfolio set-up defined
Leadership team in place
Acquisition +8% SGRE stake
Siemens Energy in D/O
March
2020
Carve-out
finalized
August
2020
Prospectus
Capital
Market Day
(Sep 1)
Note: In Q2-20 Siemens booked 3 LGT and 28 small turbines
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May 8, 2020Page 7 Q2 FY 2020 Analyst Call
Resilient business portfolio – Ability to weather the storm
Digital Industries – €16.1bn Smart Infrastructure – €14.6bn
Resilient business portfolioMobility – €8.9bn
63%
7%
25%
Solutions
Automation Products
5%
Service
Software
Revenue
FY 2019
35%
26%
38%
Products
Systems & Software
Solutions &
Services
42%
44%
14%
Rolling Stock
Road & Rail
Infrastructure
Service
Revenue
FY 2019
Revenue
FY 2019
▪ Healthy short- and long-cycle business mix
▪ Balanced exposure to customer verticals
▪ Leading digital offerings
▪ Growing service and software share
▪ Strong order backlog
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May 8, 2020Page 8 Q2 FY 2020 Analyst Call
Competitiveness programs accelerated
Contingency cost measures expanded
~ €320m
by FY 2023
~ €160m
by FY 2021
~ €300m
by FY 2023
~ €150m
by FY 2021
Cost
optimization
Operating
Companies
~ €500m by FY 2023
~ €300m by FY 2021
€90m by FY 2021
Digital Industries Smart Infrastructure
Global
Business
Services
Lean and
effective
governance
~ €320m
by FY 2023
~ €295m
by FY 2021
~ €300 m
by FY 2023
~ €180m
by FY 2021
€90m by FY 2021
Digital Industries Smart Infrastructure
CMD 2019 View
Updated View Q2 FY 20
€50m to be delivered by Siemens Energy
~ €500m by FY 2023
~ €300m by FY 2021
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