Munich, January 21, 2021

Disclosure of an inside information according to Article 17 MAR

Preliminary operating results for first quarter of fiscal year 2021 significantly above market expectations

Following a significantly better-than-expected business performance, the preliminary operating results for Siemens' businesses for the first quarter of fiscal year 2021 have exceeded market expectations. The figures below for the first quarter of fiscal year 2021 are preliminary:

Digital Industries

- Orders: €4,120m, comparable +2% yoy (year-over-year), nominal -3% yoy (consensus: €3,995m)

- Revenue: €3,765m, comparable +5% yoy, nominal 0% yoy (consensus: €3,561m)

- Adj. EBITA: €848m (consensus: €592m)

- Adj. EBITA margin: 22.5% (consensus: 16.6%)

Smart Infrastructure

- Orders: €3,806m, comparable +7% yoy, nominal +1% yoy (consensus: €3,547m)

- Revenue: €3,477m, comparable +4% yoy, nominal -1% yoy (consensus: €3,343m)

- Adj. EBITA: €391m (consensus: €300m)

- Adj. EBITA margin: 11.2% (consensus: 9.0%)

Mobility

- Orders: €2,742m, comparable +67% yoy, nominal +65% yoy (consensus: €2,348m)

- Revenue: €2,193m, comparable +4% yoy, nominal +1% yoy (consensus: €2,259m)

- Adj. EBITA: €219m (consensus: €227m)

- Adj. EBITA margin: 10.0% (consensus: 10.0%)

Siemens will review its outlook for fiscal year 2021 and will publish its full earnings release for the first quarter of fiscal year 2021 on February 3, 2021.
Disclaimer
This document contains statements related to our future business and financial performance 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 forward 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 assumptions 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 risks of the Annual Report. Should one or more of these risks or uncertainties materialize, events of force majeure, such as pandemics, occur or should underlying expectations including future events occur at a later date or not 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 these 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 supplemental 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 report or describe similarly titled alternative performance measures may calculate them differently. Explanations of financial measures used can be found in the Annual Report 2020 of Siemens AG (available at http://www.siemens.com/investor/pool/en/investor_relations/Siemens_AR2020.pdf), in particular in section A.2.
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.