Recently, major industrial giants have successively released their latest financial report data. Among them, German industrial giant Siemens, Switzerland’s ABB Group, France’s Schneider Electric, and Japan’s Mitsubishi Electric have all released recent financial reports.
Siemens mentioned in its financial results for the quarter ending March 31, 2024 that although quarterly revenue fell slightly from the same period last year, from 194.16 billion euros to 191.62 billion euros, Siemens’ efforts in digital transformation are still significant. The Digital Industry Group reached 4.505 billion euros, making this area a key area for Siemens’ future development. In addition, the revenue of the Intelligent Infrastructure Group, Siemens Mobility, and Siemens Healthineers reached 5.149 billion euros, 2.822 billion euros, and 5.435 billion euros respectively, demonstrating Siemens’ balanced development in multiple fields. Although quarterly net profit dropped to 2.196 billion euros from 3.551 billion euros in the same period last year, Siemens continues to adhere to its long-term strategy and is committed to improving profitability through technological innovation.
ABB Group’s performance for the first quarter of 2024 shows that the quarterly revenue remained essentially flat compared to the same period last year, reaching 78.7 billion US dollars. Although the net profit attributable to the company decreased from 10.36 billion US dollars to 9.05 billion US dollars compared to the same period last year, ABB’s leading position in industrial automation, robotics, and smart grid technologies remains solid. ABB’s efforts in driving digital transformation and intelligent manufacturing have won the company more opportunities in the global market.
Schneider Electric announced its first quarter results for 2024. The group’s quarterly revenue was 8.606 billion euros (approximately US$9.35 billion), a year-on-year increase of 1.3%. Although revenue increased slightly in the first quarter, the industrial automation business declined, mainly due to increased market competition and fluctuations in demand in specific industries. Nonetheless, Schneider Electric’s energy management business continues to see strong growth. Energy management business revenue reached 6.859 billion euros, a year-on-year increase of 5.8%, while industrial automation business revenue was 1.747 billion euros, a year-on-year decrease of 13%.
Mitsubishi Electric's fiscal year ended March 31, 2024, revenue reached 5,257.9 billion yen (about 33.8 billion U.S. dollars), a significant increase from the previous year. Full-year operating profit and net profit attributable to the company's shareholders also achieved significant growth, from 262.3 billion yen and 213.9 billion yen in the previous year to 328.5 billion yen and 284.9 billion yen, respectively. Mitsubishi Electric has achieved remarkable results in multiple business areas such as infrastructure, industrial and transportation, lifestyle, semiconductors and components, and commercial platforms. The balanced development of these businesses provides a strong support for Mitsubishi Electric's competitiveness in the global market. Mitsubishi Heavy Industries (MHI) announced its results for the year ended March 31, 2024. Revenue for the fiscal year was 4,657.1 billion yen (approximately $29.9 billion), compared with 4,202.7 billion yen in the previous year. Net profit attributable to owners of the parent company for the full year was Y222bn, compared with Y130.4bn in the previous year. Among them, power systems business revenue of 1,761.5 billion yen, industrial and infrastructure business revenue of 795.2 billion yen, logistics, heat and transmission system business revenue of 1,314.5 billion yen, aviation and defense business revenue of 791.5 billion yen.