Siemens backs annual outlook as revenue, profit edge higher

Siemens AG on Thursday reported continued growth amid a "volatile market", as it doubled down on its full-year guidance and discussed market opportunities tied to its Dotmatics acquisition.

The Munich-based technology company said pretax profit edged 1.3% higher to EUR2.89 billion in its third quarter that ended June 30 from EUR2.85 billion a year prior.

Revenue edged up 2.5% to EUR19.38 billion from EUR18.90 billion, but with cost of sales offsetting gains as they increased 6.2% to EUR11.84 billion from EUR11.15 billion.

The improved earnings can be attributed to advances in other operating income, other financial income as well as a reduction in other operating expenses.

Other operating income more than doubled to EUR362 million from EUR136 million, while other financial income came in at EUR21 million, swinging from expenses of EUR56 million a year prior.

Other operating expenses were 54% lower at EUR64 million from EUR139 million, further bolstering the bottom line.

Siemens said trading in the third quarter was "robust", with it recording orders of EUR24.72 billion, up 25% from EUR19.78 billion.

Shares in the technology company rose 4.5% to EUR228.95 on Thursday morning in Frankfurt.

Looking ahead, Siemens confirmed its annual guidance. It is expecting comparable revenue growth of 8% to 10% for financial 2025. It achieved EUR75.93 billion in revenue last financial year.

It also expects a book-to-bill ratio above 1, compared to 1.11 in 2024.

"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," said Chief Executive Roland Busch.

"Digitalisation 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. "

In June, its completed the USD5.1 billion acquisition of the life sciences software firm Insightful Science Holdings LLC, also referred to as Dotmatics.