Siemens AG reported continued growth in its third quarter of fiscal 2025, with strong results in orders, revenue, and net income despite global market volatility. The company’s leadership attributed the performance to ongoing momentum in digitalization and sustainability initiatives.
Roland Busch, President and Chief Executive Officer of Siemens AG, stated: “Our third-quarter performance demonstrates that Siemens is delivering robust results despite the volatile global market. We’re posting sustained growth momentum in orders, revenue and net income. Digitalization and sustainability continue to be our growth drivers. In addition, with the closing of our acquisition of Dotmatics, we’re opening up new markets in life sciences and are combining scientific intelligence with our industrial AI technologies.”
Ralf P. Thomas, Chief Financial Officer of Siemens AG, commented on the financial outlook: “In the third quarter, we posted an excellent €2.9 billion in free cash flow, and we are again aiming to achieve a double-digit free-cash-flow return for the full fiscal year. Looking ahead, we remain highly confident that we will deliver sustainable and profitable growth. We confirm our outlook for fiscal 2025.”
During Q3 2025, Siemens increased its orders by 28 percent on a comparable basis to €24.7 billion compared to €19.8 billion in Q3 2024. Revenue grew by 5 percent year-over-year on a comparable basis to €19.4 billion from €18.9 billion last year. The book-to-bill ratio was reported at 1.28, while the order backlog reached €117 billion.
Profit from Industrial Business declined by 7 percent to €2.8 billion due mainly to lower profit at Digital Industries following an exceptionally strong software business result last year; however, other industrial businesses saw increases in both profit and profitability.
Net income rose by 5 percent to €2.2 billion compared with €2.1 billion a year earlier—helped partly by gains from selling part of the airport logistics business—and basic earnings per share before purchase price allocation accounting (EPS pre PPA) increased similarly.
Group-level free cash flow totaled €2.9 billion versus €2.1 billion last year; within Industrial Business specifically it rose from €2.5 billion to €3 billion as all segments improved their cash generation.
In sector-specific results:
– Orders at Digital Industries fell slightly but automation business demand increased across all regions including China and the U.S., offsetting declines at the software business.
– Smart Infrastructure saw revenue rise across all units and geographies—up 9 percent on a comparable basis—driven largely by electrification projects for data centers and energy customers.
– Mobility recorded more than triple the previous year’s orders due primarily to large contracts such as turnkey rail systems for Egypt (€3.5 billion) and high-speed trains/services for the U.S (€1.7 billion). Revenue grew strongly across rolling stock and customer services divisions.
Smart Infrastructure improved its profit margin while Mobility also showed higher profits tied to increased revenues from major contract wins.
