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Press EventSiemens Energy

Third Quarter Results FY 2022

Berlin, 08 August 2022

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We released our third quarter financial results for the fiscal year 2022 on August 8, 2022, at 07:00 a.m. CEST. The Press Conference Call was broadcasted live at 08:30 a.m. CEST.

Save the date2022-08-08 08:30Europe/Parisuse-titleThird Quarter Results FY 2022In the recent quarter, Gas and Power (GP) achieved another solid performance despite unfavorable geopolitical and macroeconomic factors which continue to impact Siemens Energy’s business development overall. While both segments faced strong headwinds from increased material and logistic costs as well as supply chain constraints, GP demonstrated resilience due to stringent measures taken based on its operational excellence program.Siemens Energy started the restructuring of its business activities in Russia in the third quarter which burdened the result of GP by €0.2bn, reported as strategic portfolio decisions under special items. These restructuring activities are expected to be concluded by end of this fiscal year without further significant financial impact.Orders continued to be strong with growth of 60.0% year-over-year on a comparable basis (excluding currency translation and portfolio effects). Both segments contributed to the increase, resulting in third quarter orders of €9.8bn driving order backlog to another record of €93.4bn.Revenue of €7.3bn was down by 4.7% on a comparable basis as growth at GP was more than offset by a decline at Siemens Gamesa Renewable Energy (SGRE).Despite burdens from supply chain constraints, GP reported a positive Adjusted EBITA before special items of €212m nearly on prior-year quarter’s level. Due to the high loss at SGRE, Siemens Energy’s Adjusted EBITA before special items was negative €131m (Q3 FY 2021: positive €54m). Special items amounted to negative €298m (Q3 FY 2021: negative €178m) largely related to the restructuring of business in Russia. Adjusted EBITA for Siemens Energy came in at negative €429m (Q3 FY 2021: negative €124m).Accordingly, Siemens Energy’s Net loss was €533m (Q3 FY 2021: negative €307m). Corresponding basic earnings per share (EPS) were negative €0.54 (Q3 FY 2021: negative €0.32). Free cash flow pre tax decreased to negative €25m (Q3 FY 2021: positive €328m) driven by SGRE while GP exceeded the strong prior-year quarter’s level. On May 21, 2022, Siemens Energy AG announced a voluntary cash tender offer to acquire all outstanding shares in Siemens Gamesa Renewable Energy S.A., i.e., approximately 32.9 percent of the share capital, which Siemens Energy AG does not already own. The minority shareholders will be offered €18.05 per share in cash. Following a successful closing of the transaction, Siemens Energy AG intends to pursue a delisting of Siemens Gamesa Renewable Energy S.A. from the Spanish stock exchanges, where it currently trades as a member of the IBEX 35 index. In June 2022, a €1.15bn cash deposit was pledged in favor of the Spanish National Securities Market Commission which reduced Siemens Energy’s Net cash position at the end of recent quarter.Berlin

We released our third quarter financial results for the fiscal year 2022 on August 8, 2022, at 07:00 a.m. CEST. The Press Conference Call was broadcasted live at 08:30 a.m. CEST.

Press Conference Call

Earnings Release

Earnings Release Q3 FY 2022 - Gas and Power resilient while SGRE again weighing down Group results – Major initiatives taken to shape Siemens Energy for the energy transition

Presentation

Presentation: Gas and Power resilient while SGRE again weighing down Group results

Press Release08 August 2022

Earnings Release Q3 FY 2022 - Gas and Power resilient while SGRE again weighing down Group results – Major initiatives taken to shape Siemens Energy for the energy transition

In the recent quarter, Gas and Power (GP) achieved another solid performance despite unfavorable geopolitical and macroeconomic factors which continue to impact Siemens Energy’s business development overall. While both segments faced strong headwinds from increased material and logistic costs as well as supply chain constraints, GP demonstrated resilience due to stringent measures taken based on its operational excellence program....

Although further negative effects associated with geopolitical and macroeconomic challenges cannot be ruled out, management still expects to achieve its outlook given for GP and Siemens Energy excluding effects from lost revenue in connection with business in Russia for comparable revenue growth. Net loss of Siemens Energy in fiscal year 2022 is expected to exceed prior year’s net loss approximately by the impact from the restructuring of business in Russia reported as special item....

Christian Bruch

President and Chief Executive Officer of Siemens Energy AG

Maria Ferraro

Chief Financial Officer of Siemens Energy AG

Contact

Tim Proll-Gerwe

Siemens Energy

+49 152 2283-5652

tim.proll-gerwe@siemens-energy.com

Third Quarter Results FY 2022

Press Conference Call

Earnings Release

Presentation

Earnings Release Q3 FY 2022 - Gas and Power resilient while SGRE again weighing down Group results – Major initiatives taken to shape Siemens Energy for the energy transition

Christian Bruch

Maria Ferraro

Contact

Tim Proll-Gerwe

Contact Siemens Energy

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