Q1 2026 Siemens AG Earnings Call Transcript
Key Points
- Siemens AG (SIEGY) reported a strong start to fiscal 2026 with a book-to-bill ratio of 1.12, leading to a record-high order backlog of EUR120 billion.
- Group orders increased by 10% year-over-year, driven by significant momentum in Smart Infrastructure, particularly from large data center orders in the United States.
- Digital Industries posted double-digit order growth in both Automation and Software, with strong performance in China.
- Revenue growth reached 8% across all businesses, with notable contributions from Smart Infrastructure Electrification (up 22%) and Digital Industries Software (up 11%).
- Siemens AG (SIEGY) raised its earnings per share guidance, reflecting confidence in continued profitable growth and resilient cash generation.
- The macroeconomic environment remains challenging, offering limited support for key customer verticals in Digital Industries.
- Currency headwinds negatively impacted profit margins by 60 basis points, despite strong overall performance.
- Free cash flow saw a seasonal decline to EUR700 million after an exceptionally strong fourth quarter.
- The geopolitical landscape is highly volatile, posing risks to Siemens AG (SIEGY)'s operations and growth prospects.
- The integration of recent acquisitions, such as Altair and Dotmatics, involves ongoing costs and efforts, impacting short-term profitability.
Good morning, ladies and gentlemen, and welcome to the Siemens 2026 first quarter conference call. As a reminder, this call is being recorded.
Before we begin, I would like to draw your attention to the Safe Harbor statement on page 2 of the Siemens presentation. This conference call may include forward-looking statements. These statements are based on the company's current expectations and certain assumptions and are therefore subject to certain risks and uncertainties.
At this time, I would like to turn the call over to your host today, Mr. Tobia Atzler, Head of Investor Relations. Please go ahead, sir.
Good morning, ladies and gentlemen, and welcome to our Q1 conference call. All documents were released this morning and can be found also on our IR website. I'm here today with our President and CEO, Roland Busch; and our CFO, Ralf Thomas, who will review the Q1 results. As always, we will have time for a lively Q&A.
Please be aware that our AGM starts right after and
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