西门子（SIEMENS）2024财年第二季度财报（英文原版+译版）（34页）.pdf

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1、Solid second-quarter performance Outlook confirmedRoland Busch,CEO Siemens AGRalf P.Thomas,CFO Siemens AGUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Notes and forward-looking statements This document contains statements related to our future business and financial performa

2、nce and future events or developments involving Siemens that may constitute forward-looking statements.These statements may be identified by words such as“expect,”“look forward to,”“anticipate,”“intend,”“plan,”“believe,”“seek,”“estimate,”“will,”“project”or words of similar meaning.We may also make f

3、orward-looking statements in other reports,in prospectuses,in presentations,in material delivered to shareholders and in press releases.In addition,our representatives may from time to time make oral forward-looking statements.Such statements are based on the current expectations and certain assumpt

4、ions of Siemens management,of which many are beyond Siemens control.These are subject to a number of risks,uncertainties and factors,including,but not limited to those described in disclosures,in particular in the chapter Report on expected developments and associated material opportunities and risk

5、s in the Combined Management Report of the Siemens Report( in the Interim Group Management Report of the Half-year Financial Report(provided that it is already available for the current reporting year),which should be read in conjunction with the Combined Management Report.Should one or more of thes

6、e risks or uncertainties materialize,should decisions,assessments or requirements of regulatory authorities deviate from our expectations,should events of force majeure,such as pandemics,unrest or acts of war,occur or should underlying expectations including future events occur at a later date or no

7、t at all or assumptions prove incorrect,actual results,performance or achievements of Siemens may(negatively or positively)vary materially from those described explicitly or implicitly in the relevant forward-looking statement.Siemens neither intends,nor assumes any obligation,to update or revise th

8、ese forward-looking statements in light of developments which differ from those anticipated.This document includes in the applicable financial reporting framework not clearly defined supplemental financial measures that are or may be alternative performance measures(non-GAAP-measures).These suppleme

9、ntal financial measures should not be viewed in isolation or as alternatives to measures of Siemens net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements.Other companies that r

10、eport or describe similarly titled alternative performance measures may calculate them differently.Due to rounding,numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.Unrestricted|Siemens

12、MO,SI and SHS all up DI soft due to market headwinds in AutomationCompetitive strength SI Electrification standing out,revenue up+14%SOLID EXECUTIONStringent conversion Q2 IB profit of 2.5bn IB margin at 14.0%on strength in SI,while DI Automation softConsistent free cash flow 2.1bn for IB 1.3bn“all

13、in”Full-year guidance confirmed on Group level DI lowered on top and bottom line SI narrowed towards upper endSUSTAINABLE STRATEGYPortfolio optimization Divestment of Innomotics to KPS IDT ebm-papst acquisition Innovation leadership EcoTech label introduced First to market product launches:electroni

14、c switching,industrial AIGrowth engines Digital transformation and sustainability at scale Digital business up 13%in H1Q2 Key FinancialsUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 4Orders20.5bn-12%Note:Orders and Revenue growth comparableRevenue19.2bnflatIB Profit mar

15、gin14.0%EPS pre PPA2.73Free cash flow1.3bnIndustrial Net debt/EBITDA1.1xClear progress to optimize portfolio and sharpen technology company profileUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 5Bolt-on acquisitionsStrategic options best owner principleIndustrial Busines

16、sPOC&below IBFY 2024FY 2025ffClosed Q3-24Process Gas ChromatographyDivestment to KPS signedPurchase price of 3.5bn(Enterprise value)Closing in H1 FY25eClosed Q2-24Siemens EnergyAlgeriaNo further P&L effects as of Q2-24Separation process in India progressingSiemens Ltd.Board approved demergerListing

17、of SE India Ltd.within 2025 Announced Q2-24IDTebm-papstSiemens EcoTech label creates industry-leading sustainability transparencyNew Electronic Circuit Protection Device is scaling sustainability impactUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 6SENTRON ECPD(Electron

18、ic Circuit Protection Device)Ultra-fast(up to 1000 times)USE CASELarge lighting applications in parking decks,airports,tunnels,warehouses for example75%fewer lighting circuits10%less lightinginstallation costMultifunctionalParameterizableSustainableFOUNDATIONRobust Ecodesign approachSIMATIC S7-15008

19、DJH24 blue GISSINAMICS S200 servo drive systemSINUMERIK ONETransparency on product performance across 13 environmental criteria:Lifecycle from sustainable materials,optimal use&value recovery,circularityCustomers can identify and compare sustainable products more easily:Take informed decisions acros

20、s entire lifecycle performanceNote:Calculated exampleHanover Fair “Go digital,become sustainable”Cutting edge technologies and strong partnerships drive customer competitiveness Unrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 7Siemens&NVIDIA Enabling the Industrial Metave

21、rseSiemens,Microsoft,Schaeffler Generative AI for Engineering&ShopfloorSiemens Xcelerator Electrification X Siemens Industrial Copilot supports engineers to speed up generation of code for PLCs through natural language input Seamlessly connected to TIA-Portal Reduce repetitive workload and developme

22、nt times,boost quality and productivity Highly scalable IoT SaaS offering to manage,optimize and automate electrification infrastructure Commercial,industrial&utility customers Increase uptime and improve reliability,asset utilization,energy efficiency,sustainability and cyber security Launch of PLM

23、 software Teamcenter X powered by NVIDIA Omniverse technologies Ability for ultra-intuitive,photorealistic,real-time and physics-based digital twins Eliminate workflow waste&errors,save time&cost,improve customer experienceAI demand is a significant inflection for accelerated data center investmentL

24、everage strong portfolio and capacity expansion to gain market share Unrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 8Electrification Infrastructure,MV&LVBuilding ManagementDigital OperationsFinancial Services Decarbonization ServicesSiemens Xcelerator Fire SafetyPhysical

25、 SecurityComprehensive portfolioUnprecedented AI growth drives massive build out of data centers globallySupply chains for long-lead electrical infrastructure under pressure,power&grid capacity a potential constraintEmerging EU and US legislation will require more transparent operations reporting,dr

26、ives digital&sustainability demandExpansion of new global colocation operators as hyperscalers look for more third-party capacityKey market trendsKey customer priority secure supply for build planningOngoing capacity expansion for electrification equipment in U.S.will strengthen our market positionG

27、rowth trajectory points at market share gainsH1 FY 24:Orders sharply up;Revenue up by 25%y-o-yINDUSTRY FOXCONNFactory of the futureBroad based collaboration to drive digital transformation and sustainability in smart manufacturing platforms Siemens Xcelerator and vertical know-how drive customer val

28、ueSustainability impact through decarbonization,resource efficiency&people centricityUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16AUTOMOTIVE MERCEDES-BENZDigital Energy TwinSimulation model to improve integration of energy efficiency and sustainability measures in factory d

29、esigns and upgrades across production network.PUBLIC TRANSPORT BANEDANMARK&DSBDriverless train operationsUpgrade of entire 170 km long S-bane network in Copenhagen to highest grade of automation for higher train frequency,increased capacity and flexibilityHIGH-SPEED US BRIGHTLINE WESTTransform Ameri

30、can railPreferred bidder for fleet of ten state-of-the-art high-speed train sets including 30-year maintenance contract Verticaldomainknow-howCrosscollaborationCore TechnologiesPage 9Combining the real and digital worldsNew offerings for Siemens Xcelerator portfolio foster growth and customer valueU

31、nrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16FY 2020FY 2021FY 2022FY 2023FY 2024e FY 2025e5.35.66.57.33.810%CAGRDigital Business revenue11“Digital Business”means Siemens vertical specific software and IoT and Digital services from Smart Infrastructure,Digital Industries,Mobi

32、lity,Siemens Advanta;unconsolidated valuesbnPage 10Stringent execution of SaaS transitionExpanded Industrial Operations X offering,e.g.SW-defined automationDigital IndustriesMobilitySmart InfrastructureRecent highlightsLaunch of Gridscale X to manage complexity of distribution gridsElectrification X

33、 introduced,e.g.asset management,load managementScaling of Sqills through internationalizationRailigent X as key for optimized TCO and profitable service businessH1CMD TargetPage 11DI SW Annual Recurring Revenue(ARR)Q2 2218%Q1 2324%Q2 2327%Q3 2330%Q2 2437%3.13.53.63.74.03.94.1Q1 2433%Q4 239%+14%1)+1

34、5%1)SaaS transition with high momentum1 ARR:FX comparable Share of Cloud ARRbnCloud ARR:Up 1.8x y-o-y to 1.5bn60%Q2 2279%Q1 2381%Q2 2382%Q3 2384%Q4 2384%Q1 2485%Q2 241,2505,4507,5209,26011,30012,59014,760#Customers(accumulated):Customer transformation rate to SaaS:69%84%59%94%87%87%89%80%75%78%79%81

35、%89%Q2 22Q1 23Q2 23Q3 23Q4 23Q1 24Q2 24Cloud invest:120m in H1 FY24|FY24:targeted invest 250m Share of renewals based on total contract value(TCV)Therein 75%new customersSME customersRolling 4QUnrestrictedUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Combining the real and d

36、igital worldsStrong underlying growth momentum with SaaS transformation at high paceTARGET40%CloudARRbyFY2024Digital Industries(DI)Strong Software performance,while Automation is soft in challenging environmentUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16 Sequential decline

37、 in Automation,above trough levels of Q4/23 Stock levels remain elevated SW with double-digit growth Book-to-bill at 0.94 Backlog 10.2bn,therein 5.4bn SW Automation down-20%PLM Software up+5%on progressing SaaS-transition EDA with outstanding growth of 50%Lower capacity utilization Less favorable pr

38、oduct mix in Automation Contingency measures intensifying Solid cash conversion on lower profit Shift of payments for major software orders into Q3OrdersbnRevenuebnProfit marginFree cash flowmx.xProfit margin excl.severancex.x%Cash Conversion Ratex.xxtherein SoftwareQ2 FY 23Q2 FY 245.04.3-12%1)1.24.

39、0Q2 FY 231.43.1Q2 FY 245.24.5-11%1)Q2 FY 23Q2 FY 24-780bps16.5%24.5%16.7%17-23%24.3%565Q2 FY 23Q2 FY 241,158-51%0.920.761 Comparable,excl.FX and portfoliox.xPage 12Digital Industries(DI)Unrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Automation orders sequentially softer;howev

40、er,above trough level of Q4 FY 23Lower fast turning orders affect revenue growth on very tough comps-20%-26%OrdersRevenueQ2 FY 24 Key regions AutomationChina-17%-25%Germany-45%-27%Italy-22%-11%U.S.Q2 FY 24 Software+19%GlobalStrong performance driven by EDA,Double digit-growth across all regionsOrder

41、s normalizing,sequentially up;Weak macro weighed on revenueOrders still weak in soft macro;Revenue lower broad-based versus outstanding PY levelsOrders impacted by soft macro and elevated distributor stock levels;Revenue with tough compsOrders further normalizing;Process revenue moderately downNote:

42、Growth rates Comparable,excl.FX and portfolioPage 13Digital Industries(DI)Vertical end market trendsUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Still subdued macro environmentMuted growth momentum in key end marketsAutomotiveMachine BuildingFood&BeveragePharma&ChemicalsAer

43、ospace&DefenseElectronics&SemiconductorsVertical end marketsRevenueexposureMarket trend1Q1 FY 24Market trend1Q2 FY 2420%15%10%10%5%10%1 Y-o-Y industry revenue development for next 6 months based on industry production data from statistical office sources(e.g.NBoS,US Fed,Eurostat)Page 14Smart Infrast

44、ructure(SI)Consistent topline momentum,record operational profitability,strong free cash flowUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16 Book-to-bill at 1.18 Electrical Products up+26%Electrification up+4%Buildings up+4%Record level of large orders from data center custom

45、ers All-time high backlog 18bn Electrification with further excellent growth of+14%Electrical Products up+2%on tough comps Buildings up+2%driven by solutions and services Service business up+6%Strong conversion on higher revenue and capacity utilization Net positive economic equation supported by on

46、going productivity measures Stringent cash conversionOrdersbnRevenuebnProfit marginFree cash flowm1 Comparable,excl.FX and portfolioProfit margin excl.severancex.x%Cash Conversion Ratex.xxtherein ServiceQ2 FY 23Q2 FY 245.56.1+10%1)1.03.9Q2 FY 231.14.0Q2 FY 244.95.1+6%1)796770Q2 FY 23Q2 FY 24-3%1.020

47、.90Q2 FY 23Q2 FY 24+70bps16.1%16.8%11-16%15.9%16.6%x.xx.xPage 15Smart Infrastructure(SI)Unrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Order growth driven by large customer wins for data centersRevenue growth fueled by strong momentum in the U.S.Orders RevenueQ2 FY 24 Key reg

48、ions Q2 FY 24 Service+6%GlobalBroad-based revenue growth driven by Asia and across Europe+38%+12%U.S.Order strength on large data center wins;Strong backlog execution,Electrification&Electrical Products driving revenue up-12%-1%GermanyOrders softer across businesses;Revenue growth in Buildings offse

49、tting Electrical Products-9%-9%ChinaOrders and revenue soft across businesses due to challenging market environment,especially in commercial real estate+3%+1%Europeexcl.GermanyOrders driven by large Buildings orders;Revenue strength in Electrification,mainly power distribution&transmissionNote:Growt

50、h rates Comparable,excl.FX and portfolioPage 16Smart Infrastructure(SI)Vertical end market trendsUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Key verticals with consistent market trendsData Center a growth engine boosted by AI;Power Distribution strengthCommercial Buildings

51、Public Sector/EducationData CenterPower DistributionElectrical&ElectronicsHealthcareVertical end marketsRevenueexposureMarket trend1Q1 FY 24Market trend1Q2 FY 2420%10%5%10%5%5%1 Trend next 3 4 quarters,Y-o-Y vertical market development Page 17Mobility(MO)Solid topline and profit performance,sharp fr

52、ee cash flow improvementUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16 Book-to-bill at 1.12 Solid number of large and mid sized orders in both,Rolling Stock and Rail Infrastructure Backlog at 48bn,therein 13bn service Clear growth across all businesses Stringent backlog exec

53、ution Service up+9%Higher revenue and strong project execution drive operational profitability improvement Prior year included positive trailing effects from Russia Higher level of milestone and downpayments Clear catch up as expectedOrdersbnRevenueProfit marginFree cash flowmCash Conversion Ratex.x

54、xtherein ServiceQ2 FY 23Q2 FY 246.23.2-49%1)0.42.2Q2 FY 230.52.3Q2 FY 242.72.8+6%1)2331Q2 FY 23Q2 FY 24+100%0.011.40Q2 FY 23Q2 FY 24-80bps8.4%10-13%9.2%1 Comparable,excl.FX and portfoliox.xx.xRevenuebn9.6%8.6%Profit margin excl.severancex.x%Page 18Below Industrial BusinessSolid operational performan

55、ce,lower tax rateUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16m14989162IBSFSPOCOther Below IB items-188PPA-260TaxIncome Cont.OpsDisc.Ops.Net Income2,5132,0342,196-269Minorities163mTax Rate 11%Q2 FY 24 SFS:Consistently solid performance Portfolio Companies:Robust profitabili

56、ty as expected;starting from Q3,Innomotics will be reported in D/O retrospectively Net Income:Reflecting solid operational performance;significantly lower tax rate due to a non-cash reversal of income tax provisionsPositive swing in Discontinued Operations also tax-drivenNote:Other Below IB items co

57、ntains SE Investment;SRE;Innovation;Governance;Pensions;Financing,Elimination,OtherDetailed split H1 24 and Outlook FY 2024 see page 28 Page 19Key developmentsSolid free cash flow supported by all businessesUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16FCF Industrial Busines

58、sbnFCF“all in”bnIndustrial Business lower due to profit decline at Digital Industries Build up of operating net working capital at Siemens HealthineersCash Conversion Ratex.x2.70.4H1 FY 232.11.3H1 FY 243.13.4Q2Q1+10%0.59Q2 cash performance0.65Page 20Capital allocation for shareholders2.30.1H1 FY 231

59、.31.0H1 FY 24Q2Q12.42.4-2%0.470.50New share buyback program started(0.2bn since inception in Feb 2024)Dividend payment of 3.7bn to Siemens shareholders in Feb 2024Outlook FY 2024 on Group level confirmedUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 21This outlook exclud

60、es burdens from legal and regulatory mattersSiemens GroupSiemens BusinessesRevenue growthComparable Profit marginDigital Industries-8%-4%prior 0%3%18%21%prior 20%23%Smart Infrastructure8%10%prior 7%10%16%17%prior 15%17%Mobility8%11%8%10%Book-to-bill1Revenue growthComparable4%8%EPS pre PPA excl.SE In

62、 to sell Innomotics to KPS Capital Partners for 3.5bnPage 24Germany28%Americas21%Europe&Africa 20%China19%APAC&ME12%Revenue by geography(FY 23)#13.3bnMarket positionRevenue(FY 23)Adj.EBITDA margin(FY 23)DoubledigitUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Key transaction

63、 factsBuyer:KPS Capital Partners Very experienced financial investor with US$21bn AuM Strong track record in creating and strengthening world-class,industry-leading manufacturing and industrial businessesPurchase price(EV):3.5bnNext steps:Transaction expected to be completed in H1 FY 25,after custom

64、ary regulatory approvalsOrder backlog on record levelGrowth aspirations well underpinned for SiemensUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-165534230487181094Order backlog March 202456FY 2024eFY 2025eAfter FY 2025e11429Expected revenue generation from backlogKey developm

65、entsbnShort-cycle product businesses in DI further normalized,Software backlog now exceeding AutomationContinued rise of backlog in systems,solution and service business of SI providing strong basis for clear revenue growthMO with high visibility for utilization of well-structured manufacturing foot

66、print;execution excellence is key Attractive long-term share in SHS-backlogDIMOSHSSIPOC/OtherPage 2510%Manufacturing5%Healthcarenon-hospitals5%Information andcommunication8%Healthcare hospitals6%Conventional power9%Transmission anddistribution13%Service9%Transportation43%USA4%Wholesale andretail tra

67、de63%Project andstructured debt6%Equity business30%Commercialfinance16%RenewableFinancial Services:Strong H1 performance driven by an equity sale as planned in Q1 provides a solid base for FY24Page 26IndustryProduct15%OtherRegion4%Canada12%Other investmentgrade countries 3%Other non-investment grade

68、 countries13%Other EU12%UK4%France4%India6%GermanyPortfolio composition by product,industry and region(Q2 FY 24)SFS totalDebt BusinessEquity BusinessTherein:Return on Equity(after tax)Earnings before taxes(m)Total assets(bn)Key figures30340931.3H1FY2332.6H1FY2420321029.2H1FY2330.2H1FY241022021.8H1FY

70、4Expectation for FY 2024Profit Industrial Business5,236SFS409Further gradual improvement over FY 2023POC167Operational margin 5%,FY 23 included gain on sale of CV(148m)SE Investment479No further P&L impact;excluded from EPS guidanceSRE16On FY 2023 level,dependent on disposal gainsInnovation-94On FY

71、2023 levelGovernance-76Further improvement vs.FY 2023;around-0.3bnPensions-47On FY 2023 levelPPA-384-0.7 to-0.8bn,based on current portfolioFinancing,Elim.,Other-152-0.3 to-0.4bn,depending on market developmentsTax-984Tax Rate:21 25%w/o impact from potential tax reformsIncome C/O4,570Discontinued Op

72、erations175Innomotics will be reported as D/O starting from Q3 FY 24 retrospectivelyNet Income4,744Page 27Net Debt bridgeCapital Structure remains rock solidUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Net Debt Q1 20242.0-0.2 OWC-1.0Cash flows from investing activities-5.2F

73、inancing and other topicsNet Debt Q2 202426.8Net Debt adjustmentsInd.Net Debt Q2 202436.641.014.2Q2 Q1 SFS debt 28.5+0.6 Provisions for pensions-1.4+0.1 Credit guarantees-0.4 0.0Ind.Net Debt/EBITDA(c/o)1.1x(Q1 FY24:0.7x)Cash&cash equiv.11.8bn1)Cash&cash equiv.8.8bn2)Operating ActivitiesbnCash flows

74、from operating activities(w/o OWC)1 Sum Cash&cash equivalents of 11.8bn incl.current interest bearing debt securities of 1.1bn2 Sum Cash&cash equivalents of 8.8bn incl.current interest bearing debt securities of 1.1bntherein:Inventories-0.2 Trade and other receivables+0.1 Trade payables-0.3 Contract

75、 assets/liabilities+0.2therein:Dividends paid-3.7 Share buyback-0.2 Interest paid-0.6 FX -0.6therein:CAPEX-0.5 SFS-0.5Page 28Capital structure on strong levelContinuing robust cash performance,dividend paymentUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Capital structure1.6

76、x 1.6x1.0 x1.1x1.0 x0.8x0.6x0.7x1.1xQ2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24Industrial net debt/EBITDA(c/o)Consistent cash generation with stable development over prior year H1 Excellent financial position recognized with rating upgrade by S&P to AA-Raised large 5bn corporate bond acros

77、s a four-part deal with outstanding terms&conditions Pension deficit remains on record low level of 1.4bn Record dividend payment of 3.7bn to Siemens shareholders New share buyback program started Opportunities from further portfolio optimizationTargetUp to 1.5xPage 29Financial strengthSiemens with

78、sound refinancing profileUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 30FY 2031FY 2032FY2033FY 2034FY 2035FY2036FY2037FY 2039FY 2041FY 2042FY2043FY2044FY 2045FY 2046FY 20471.54.86.75.42.93.02.33.72.01.01.00.80.5FY 2024FY 2025FY 2026FY 2027FY 2028FY 2029FY 20300.81.41.3

79、0.81.51.60.91.40.8Loan and bond maturity profile as of March 28,2024in EUR bnTotal loan and bond debt of around 46bn1)1)Nominal AmountProvisions for pensions remain stable at historic low levelUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 31Q FY 2020 Pensions and simila

80、r obligations 1 All figures are reported on a continuing basis(w/o LHfS)2 Fair value of plan assets including effects from asset ceiling(Q2 2024:-0.5bn);Difference between DBO and fair value of plan assets additionally resulted in net defined benefit assets (Q2 2024:1.0bn)in bnFY 2021FY 2022Q1 FY 20

81、23Q2 FY 2023Q3 FY 2023Q4 FY 2023Q1 FY 2024Q2 FY 2024Defined benefit obligation(DBO)-35.5-27.8-27.2-27.3-28.1-26.6-28.8-28.3Fair value of plan assets33.525.925.725.926.725.527.727.9Provisions for pensions and similar obligations-2.8-2.3-1.8-1.8-1.7-1.4-1.5-1.4Discount rate1.3%3.9%3.9%3.8%3.8%4.6%3.5%

82、3.7%Interest income0.30.30.20.20.20.20.30.3Actual return on plan assets2.5-6.70.40.70.1-1.01.70.7Profit Bridge from SHS disclosure to SAG disclosureDifferent profit definitions at SHS and SAG to be considered in modelsUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05-16Page 32mQ2

83、FY 24H1 FY 24SHS EBIT(adjusted)82215.1%1,56414.7%PPA(SHS logic)1-95-191Transaction,integration,retention,carve-out cost-6-11Gains and losses from divestments00Severance-29-54Expenses for other portfolio-related measures00Other restructuring expenses-103-126SHS EBIT(as reported)58910.8%1,18211.1%PPA(

84、SAG logic)2+91+182Consolidation/Accounting Differences+1+8SAG Profit(as reported)68112.5%1,37312.9%Severance+29+54SAG Profit(excl.severance)71013.1%1,42613.4%1PPA on intangible assets as well as other effects from IFRS 3 PPA adjustments2 PPA on intangible assetsUnrestricted|Siemens 2024|Investor Rel

85、ations|Q2 Analyst Call|2024-05-16Outlook FY 2024 as presented by Siemens Healthineers on May 7,2024Page 33Tobias ANikola PChristopher HJulia BFinancial calendarUnrestricted|Siemens 2024|Investor Relations|Q2 Analyst Call|2024-05- 89 7805-32474Investor Relations ContactsMartin BNico ZMay 16,2024Q2 Earnings ReleaseJune 13,2024JP Morgan ConferenceMay 17,2024Roadshow London(virtual)June 4,2024BNP Exane ConferenceCinzia FMay 28/29,2024RoadshowNew York,BostonJune 5,2024Roadshow FrankfurtPage 34June 20,2024Roadshow Munich;JefferiesConference(virtual)August 8,2024Q3 Earnings Release