Siemens Aktiengesellschaft · XETR:SIE
Siemens Aktiengesellschaft — Siemens — Q3 2018 Earnings Presentation
17 slides from Siemens Aktiengesellschaft's earnings presentation, Aug 2, 2018
Slide 1: Q3 - Strong order growth highlights successful third quarter
Q3 - Strong order growth highlights successful third quarter Ralf P. Thomas, CFO Q3 FY 2018 Press and Analyst Conference | Munich, August 2, 2018 Unrestricted © Siemens AG siemens.com
Slide 2: Notes and forward-looking statements
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 forw
Slide 3: Q3 FY 2018: Strong order growth highlights successful third quarter
Q3 FY 2018 Strong order growth highlights successful third quarter Excellent order growth of 21%; book-to-bill at 1.11x Solid revenue growth in most businesses offsetting weakness in PG & SGRE Substantial burden from FX on top and bottom line IB profit margin up +60bps at 10.7% driven by out
Slide 4: PG: Significant order wins; EM: Short cycle products drive margins
PG: Significant order wins – ongoing challenges weigh on profit EM: Short cycle products drive margins despite FX headwind Power and Gas (PG) Energy Management (EM) Orders Revenue Orders Revenue €bn €bn +54%1) -16%1) -5%1) +5%1) 2.6 3.8 3.8 3.0 3.0 2.7 3.0 3.1 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18 Q3
Slide 5: BT: Margin expansion continues; MO: Strong order momentum
BT: Margin expansion continues – digital capabilities enhanced MO: Strong order momentum – margin well in target range Building Technologies (BT) Mobility (MO) Orders Revenue Orders Revenue €bn €bn +9%1) +4%1) +11%1) +6%1) 1.6 1.7 1.6 1.6 2.3 2.5 2.1 2.1 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18 Q3 FY 17
Slide 6: DF: Another quarter of world class performance; PD: Top line growth returned
DF: Another quarter of world class performance PD: Top line growth returned Digital Factory (DF) Process Industries and Drives (PD) Orders Revenue Orders Revenue €bn €bn +12%1) +13%1) +11%1) +5%1) 3.0 3.3 2.9 3.3 2.3 2.4 2.2 2.2 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18
Slide 7: SHS: Imaging drives revenue growth; SGRE: Large orders across the globe
SHS: Imaging drives revenue growth - material FX headwinds SGRE: Large orders across the globe Siemens Healthineers (SHS) Siemens Gamesa Renewable Energy (SGRE) Orders Revenue Orders Revenue €bn €bn +6%1) +5%1) +143%1) -18%1) 3.5 3.5 3.3 3.3 3.3 2.7 1.4 2.1 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18 Q3 FY
Slide 8: Ramp up of corporate items on higher innovation invest
Q3 FY 18 Ramp up of corporate items on higher innovation invest Below Industrial Business – Q3 FY 2018 Expectations for Q4 FY 2018 €m • CMPA: 173 -35 37 -346 Q4 negative impact by Mobility carve out related costs 2,209 Tax rate -299 @28.6% • Corporate Items: -109 Q4 significantly higher y-o-y on cen
Slide 9: Guidance FY 18 confirmed
Guidance FY 18 confirmed Earnings per share (in €) Guidance We continue to expect basic EPS from net income in the range mid-point of €7.70 to €8.00, excluding severance charges. +5% 8.00 Furthermore we confirm our expectation of modest growth in revenue, net of effects from currency translation and
Slide 10: Appendix
Appendix Unrestricted © Siemens AG 2018 Page 10 Munich, August 2, 2018 Q3 FY 2018 Press and Analyst Conference
Slide 11: Financial cockpit – Q3 FY 2018
Financial cockpit – Q3 FY 2018 Orders Revenue Profit Industrial Business (IB) Net Income in €bn 21% Comp. flat in €bn +2% in €bn (16%) (nom.) (-4%) 22.8 2.2 2.2 -14% 19.7 21.3 20.5 1.4 1.2 10.5% 11.0% Margin 10.1% 10.7% B-t-B 0.92 1.11 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q3 FY 18 Q3 FY 17 Q
Slide 12: Net debt bridge – Q3 FY 2018
Net debt bridge – Q3 FY 2018 Q3 ΔQ2 in €bn • SFS Debt +23.0 +0.7 Ind. Net Debt/ • Post emp. Benefits -7.6 +0.5 EBITDA (c/o) • Credit guarantees -0.4 0.0 0.6x • Fair value adj. +0.3 0.0 (Q2 FY18: 0.6x) (hedge accounting) Operating Activities -20.2 -20.9 -5.5 therein: • Δ Inventories -0.1 15.4 therein
Slide 13: Provisions for pensions improved, mainly due to extraordinary fundings in USA
Provisions for pensions improved, mainly due to extraordinary fundings in USA Q3 FY 2018 – Pensions and similar obligations Q1 Q2 Q3 in €bn1) FY 2015 FY 2016 FY 2017 FY 2018 FY 2018 FY 2018 Defined benefit obligation (DBO)2) (36.8) (42.2) (36.9) (36.9) (36.5) (36.2) Fair value of plan assets2) 27.1
Slide 14: Q3 FY18 Profit Bridge from SGRE disclosure to SAG disclosure
Q3 FY18 Profit Bridge from SGRE disclosure to SAG disclosure Different profit definitions at SGRE and SAG to be considered in models in €m disclosure (as of July 27, 2018) disclosure (as of August 2, 2018) 7.3% 156 6.2% -25 5.4% 132 -14 115 17 -2 -82 82 2.3% 50 EBIT Integration & PPA effects EBIT PP
Slide 15: Q3 FY18 Profit Bridge from Siemens Healthineers disclosure to SAG disclosure
Q3 FY18 Profit Bridge from Siemens Healthineers disclosure to SAG disclosure Different profit definitions at Siemens Healthineers and SAG to be considered in models in €m disclosure (as of July 30, 2018) disclosure (as of August 2, 2018) 16.4% 16.0% 15.6% 15.2% 541 528 515 25 -25 503 13 Profit Sever
Slide 16: Financial calendar
Financial calendar August 2, 2018 Q3 Earnings Release August 2-3, 2018 Roadshow UK (London) August August 6, 2018 Roadshow Germany (Frankfurt) August 7-8, 2018 Roadshow US (East Coast) September 7, 2018 September Morgan Stanley Conference (London) November 8, 2018 November Q4 Earnings Release Unrest
Slide 17: Investor Relations contacts
Investor Relations contacts Investor Relations Internet: www.siemens.com/investorrelations E-Mail: [email protected] Telefon: +49 89 636-32474 Fax: +49 89 636-1332474 Unrestricted © Siemens AG 2018 Page 17 Munich, August 2, 2018 Q3 FY 2018 Press and Analyst Conference