Karachi: Siemens (Pakistan) Engineering Co. Ltd. has released its unaudited condensed interim financial statements for the half year ending March 31, 2025, highlighting a decline in new orders and net sales compared to the same period last year. For the six months ending March 31, 2025, the company reported new orders amounting to Rs 7,929 million, a significant decrease from Rs 12,036 million recorded in the corresponding period in 2024.

The company's net sales and services, encompassing both continuing and discontinued operations, also saw a notable reduction, totaling Rs 6,866 million for the half-year period, down from Rs 19,124 million in the previous year. The revenue from continuing operations stood at Rs 3,294 million, compared to Rs 5,017 million last year, a decline attributed primarily to the backlog of orders due to previous import restrictions.

Despite the downturn in sales and orders, Siemens Pakistan recorded a net profit from discontinued operations at Rs 724 million, contrasting with a loss of Rs 1,761 million in the previous year. The profit before tax from discontinued operations was Rs 1,090 million, bolstered by a Rs 705 million gain from changes in the fair value of embedded foreign currency derivatives related to the sale of the Energy Business.

Overall, the company achieved a net profit of Rs 583 million for the period, a marked improvement from the net loss of Rs 1,568 million in the prior year. Earnings per share stood at Rs 70.73 compared to a loss per share of Rs 190.08 in March 2024.

According to information available from the Pakistan Stock Exchange (PSX), the earnings per share from continuing operations registered a loss of Rs 17.07, contrasting with earnings of Rs 23.43 in the previous year. The company's market category remains industrial and engineering.

Following the carve-out of its energy business, Siemens Pakistan is focusing on its Smart Infrastructure (SI) and Digital Industries (DI) segments to capitalize on opportunities in infrastructure modernization and industrial digitalization within Pakistan. The company aims to expand business volumes through its technological expertise while managing operational challenges effectively.

The Board of Directors and Management at Siemens Pakistan express optimism that their refined strategy will generate sustainable value for shareholders and enhance the company's reputation as a trusted technology partner. Acknowledgement was given to the company's employees, stakeholders, and partners for their continued support and confidence.