Revenue was EUR13.5 billion, 5% lower than the same quarter a year ago, with Mobility delivering growth and other industrial businesses posting declines resulting largely from factors related to COVID-19; orders, which came in 7% lower at EUR14.4 billion, included significant contract wins at Mobility resulting in a book-to-bill ratio well above one, at 1.07
Revenue and orders showed the same development on a comparable basis, excluding currency translation and portfolio effects
Adjusted EBITA Industrial Businesses increased to EUR1.8 billion, benefiting from a EUR0.2 billion gain from revaluation of an equity stake within Digital Industries; Adjusted EBITA margin Industrial Businesses was 14.3%, including the revaluation effect which contributed 1.7 percentage points and severance charges which took 0.4 percentage points
Net income was EUR0.5 billion and basic earnings per share (EPS) were EUR0.67
Strong Free cash flow of EUR2.5 billion, up from EUR0.4 billion in Q3 FY 2019; improvements in all industrial businesses
Despite the severe global crisis, we delivered strong operating performance and rigorously drove our realignment forward. Our strategy concept Vision 2020+ is gaining traction, and Healthineers is testimony that shows the program's strategic and transformational power. Our employees and our partners have my deep gratitude and respect. Together, they've set an impressive benchmark for dedication and performance.
Joe Kaeser, President and Chief Executive Officer of Siemens AG
Please read the complete Earnings Release and Financial Results:
Earnings Release Q3 FY 2020: Strong team performance in challenging times! - Strategy concept Vision 2020+ gains traction
The financial publications are available for download at: www.siemens.com/ir
Outlook
While we expect the economic consequences of the COVID-19 pandemic to continue to strongly impact our fiscal fourth quarter financial results, macroeconomic developments and their influence on Siemens still cannot be reliably assessed.
We continue to expect a moderate decline in comparable revenue in fiscal year 2020, net of currency translation and portfolio effects, with the book-to-bill ratio remaining above 1. The decline in demand most strongly affects our Operating Companies Digital Industries and Smart Infrastructure.
We adhere to our plan to complete the spin-off and public listing of Siemens Energy before the end of fiscal 2020. We expect to record a spin-off gain within discontinued operations, the amount of which cannot yet be reliably forecast. We continue to expect material impacts on Net income from spin-off costs and tax expenses related to the carve-out and sub-group creation of Siemens Energy.
Given the above-mentioned circumstances we continue to refrain from giving guidance for basic EPS from Net income for fiscal 2020.
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