(Alliance News) - Siemens AG on Wednesday said it will buy back EUR6 billion in shares as it confirmed its outlook for 2026, but reported lower net income for the second quarter.

The Munich, Germany-based technology company said net income fell 8.3% to EUR2.24 billion in the second quarter from EUR2.44 billion a year prior. On a per diluted share basis, net income fell 8.8% to EUR2.58 from EUR2.83.

Revenue for the second quarter was stable at EUR19.76 billion. On a comparable basis, Siemens said revenue was 6% higher.

Siemens announced a new share buyback programme of up to EUR6 billion, to run for up to five years.

"We delivered a successful second quarter despite the geopolitical environment, which remains very demanding. Siemens is benefiting from its technological strength and strong positioning in key growth markets. Digital Industries and Smart Infrastructure posted impressive overall performance – clear evidence that we're on a path of profitable growth," said Chief Executive Officer Roland Busch.

In the second quarter, orders climbed 11% to EUR24.11 billion from EUR21.64 billion, as the firm noted a "record-high" order intake at Smart Infrastructure.

For the first half in total, net income fell 29% to EUR4.46 billion from EUR6.31 billion. Diluted net income per share sank 31% to EUR5.16 in the first half from EUR7.48.

First half revenue grew 2.1% to EUR38.90 billion from EUR38.11 billion.

Siemens confirmed its outlook for 2026. It continues to expect comparable revenue growth between 6% and 8%.

The company forecasts basis earnings per share from net income before purchase price allocation accounting between EUR10.70 and EUR11.10 in 2026. EPS pre PPA in 2025 was EUR12.95.

Siemens now forecasts comparable revenue growth between 7% and 10% in Digital Industries, up from between 5% and 10%.

It now sees 8% to 10% comparable revenue growth in Smart Infrastructure, up from previous guidance of between 6% and 9%.

The firm guides for 5% to 7% comparable revenue growth in the Mobility division, down from between 8% and 10% previously.

"Our operating businesses' convincing performance and our strong free cash flow prove our resilience. As a result, we're very well positioned to reach our full-year group targets," said Chief Financial Officer Veronika Bienert.

Shares in Siemens were up 0.4% at EUR265.55 on Wednesday morning in Frankfurt.

By Michael Hennessey, Alliance News reporter

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