Q4 2024 Siemens AG Earnings Call Transcript
Key Points
- Siemens AG (SIEGY) reported a strong operational performance with a record high free cash flow of EUR 9.5 billion for the group.
- The company achieved a record high earnings per share pre-PPA, excluding Siemens Energy, of EUR 11.45, up 6% from the previous year.
- Smart Infrastructure grew by 9% and achieved a record profitability of 17.3%, exceeding this year's guidance.
- The data center business revenue grew more than 50%, now exceeding EUR 2 billion, and clearly winning market share.
- Siemens AG (SIEGY) announced a dividend proposal of EUR 5.20, up by EUR 0.50, reflecting a strong commitment to shareholder returns.
- Digital Industries revenue declined by 8% on a comparable basis due to challenging conditions for the automation business.
- The automation business faced material headwinds, with revenue down 26% against a strong prior year quarter.
- Economic activity remained muted, with weak investment sentiment in core industries such as automotive and machine building.
- The company anticipates a slow start into fiscal 2025, with orders expected to be on level with the prior year due to continued destocking in automation.
- Siemens AG (SIEGY) faces ongoing geopolitical tensions and macroeconomic uncertainties, impacting global trade and production.
Good morning, ladies and gentlemen, and welcome to the Siemens 2024 fourth-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. Tobias Atzler, Head of Siemens Investor Relations. Please go ahead, sir.
Ladies and gentlemen, and welcome to our Q4 conference call. All Q4 documents were released this morning and can be found on our IR website. I'm here today with our President and CEO, Roland Busch; and our CFO, Ralf Thomas, who will review the Q4 and full fiscal '24 results, followed by the outlook for fiscal 2025. We will also elaborate on our long-term direction for Siemens to act as
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