Siemens hails “resilient performance”

The Chief Executive of Siemens Mobility has hailed his company’s financial performance as “resilient” in 2020, despite the huge challenges of Covid-19 restrictions.

Michael Peter tweeted the comments along with a link to the company’s results release, in which he thanked his “great team, who at all times made sure that we served our customers and kept our business going. This is your achievement”.

Siemens says it delivered a strong financial performance in fiscal 2020 (ended September 30), despite the major challenges worldwide caused by the COVID-19 pandemic.

At €57.1 billion, revenue was at prior-year level; while orders declined slightly to €60.0 billion. At €7.6 billion, adjusted EBITA for Industrial Businesses was only slightly below prior-year level, while adjusted EBITA margin of 14.3 percent (FY 2019: 14.4 percent) stable at a high level.

Net income of €4.2 billion, down from €5.6 billion in 2019.

Siemens says that, in appreciation of their outstanding performance during the crisis, it will pay about €200 million in bonuses to its employees worldwide.

Read the full results here.


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