Q2 – Robust performance in complicated times
Roland Busch, Deputy CEO
Ralf P. Thomas, CFO
Analyst Call, May 8, 2020
Unrestricted © Siemens 2020 |
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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.
Unrestricted © Siemens 2020
Page 2 |
May 8, 2020 |
Q2 FY 2020 Analyst Call |
Our agenda for today
Covid-19 impact & Executing Vision 2020+
Q2 FY 2020 Financials
Unrestricted © Siemens 2020
Page 3 |
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
Unrestricted © Siemens 2020
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May 8, 2020 |
Siemens smart clinic |
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Covid-19 tests |
for Colombia |
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released by |
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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 |
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Revenue |
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IB Adj. EBITA |
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margin |
-9% |
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-1% |
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12.1% |
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EPS |
Free Cash Flow (IB) Indust. ND/EBITDA |
€0.80 €1.1bn
1.8x
Orders and Revenue growth comparable
Unrestricted © Siemens 2020
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May 8, 2020 |
Q2 FY 2020 Analyst Call |
Siemens Energy on track for listing end of September
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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
Unrestricted © Siemens 2020
Page 6 |
May 8, 2020 |
Today
Spin-off-
Report
Road-
show
Extraordinary |
Capital |
General Meeting |
Market Day |
(Jul 9) |
(Sep 1) |
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Prospectus Listing |
Q2 FY 2020 Analyst Call
Resilient business portfolio – Ability to weather the storm
Digital Industries – €16.1bn
Software
25%
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Revenue |
Service 7% |
FY 2019 |
63% |
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5% |
Automation Products |
Solutions |
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Mobility – €8.9bn
Service 14%
Revenue 42% Rolling Stock
FY 2019
Road & Rail
Infrastructure 44%
Unrestricted © Siemens 2020
Page 7 |
May 8, 2020 |
Smart Infrastructure – €14.6bn
Solutions & |
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Products |
Services |
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38% |
35% |
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Revenue |
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FY 2019 |
26% |
Systems & Software |
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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 |
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~ €300m |
by FY 2023 |
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by FY 2023 |
~ €160m |
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~ €150m |
by FY 2021 |
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by FY 2021 |
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€90m by FY 2021
~€500m by FY 2023
~€300m by FY 2021
Updated View Q2 FY 20
Digital Industries Smart Infrastructure
~ €320m |
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~ €300 m |
by FY 2023 |
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by FY 2023 |
~ €295m |
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~ €180m |
by FY 2021 |
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by FY 2021 |
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€90m by FY 2021
~€500m by FY 2023
~€300m by FY 2021
Unrestricted © Siemens 2020
Page 8 |
May 8, 2020 |
€50m to be delivered by Siemens Energy
Q2 FY 2020 Analyst Call