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SIEMENS Announces Quarterly Results (2QFY19); Net Profit Down 55.2%

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SIEMENS Announces Quarterly Results (2QFY19); Net Profit Down 55.2%
Mon, 19 Nov

SIEMENS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

SIEMENS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m31,41830,73039,39228.2%25.4%
Other incomeRs m63069276410.4%21.3%
TurnoverRs m32,04831,42240,15627.8%25.3%
ExpensesRs m28,24727,70735,20627.1%24.6%
Gross profitRs m8,7753,0234,18638.5%-52.3%
DepreciationRs m5025005071.4%0.9%
InterestRs m224511175.0%130.2%
Profit before taxRs m8,8803,2114,39236.8%-50.5%
TaxRs m2,6421,1671,60037.1%-39.4%
Profit after taxRs m6,2382,0442,79236.6%-55.2%
Gross profit margin%27.99.810.6
Effective tax rate%29.836.336.4
Net profit margin%19.56.57.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 25.4% on a year-on-year (YoY) basis. The expenses were up by 24.6% YoY during the same period.
  • The company's operating profit declined by 52.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.6% in 2QFY19 as against 27.9% in 2QFY18.
  • Depreciation charges increased by 0.9% and finance costs increased by 130.2% YoY, respectively.
  • Other income increased by 21.3% YoY during the quarter.
  • Net profit for the quarter declined by 55.2% YoY. Net profit margins during the quarter declined from 19.5% in 2QFY18 to 7.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 28.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 27.1% QoQ during the same period.
  • The company's operating profit increased by 38.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.6% in 2QFY19 as against 9.8% in 1QFY18.
  • Net profit for the quarter increased by 36.6% QoQ, while net profit margins increased from 6.5% in 1QFY18 to 7.0% in 2QFY19.

To see how SIEMENS has performed over the last eight quarters, please visit here.

SIEMENS Share Price Performance

Over the last one year, SIEMENS share price has moved up from Rs 1,191.9 to Rs 950.7, registering a Loss of Rs 241.3 or around 20.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,448.4 (up 0.2%). Over the last one year it has moved up from 18,236.0 to 18,448.4, a gain of 212 points (up 1.2%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

Current Valuations

At the current price of Rs 950.7, the price to earnings (P/E) ratio of SIEMENS stands at 37.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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