Recently, major industrial giants have announced their latest financial report data.
Among them, the German industrial giant Siemens, the Swiss ABB Group, the French Schneider Electric and the Japanese Mitsubishi Electric have all released their recent financial reports, showing their business results under the digital, intelligent and diversified strategies, and their different performance reflects the resilience and vitality of the industrial automation field in the face of global macroeconomic challenges.
What does the global industrial giant's earnings report reveal?
Siemens
Siemens' fiscal quarterly results for the period ending March 31, 2024 mention that despite a slight decline in quarterly revenues, which fell to €19,162 million from €19,416 million in the same period of the previous year, Siemens' efforts in digital transformation remain significant.
Revenue from the Digital Industry Group reached €4.505 billion, an area that is becoming a focus for Siemens' future growth. In addition, revenue from the Intelligent Infrastructure Group, Siemens Transportation and Siemens Healthcare reached €5.149 billion, €2.822 billion and €5.435 billion, respectively, demonstrating Siemens' balanced development in a number of areas.
Although quarterly net profit fell to 2.196 billion euros from 3.551 billion euros in the same period of the previous year, Siemens remained committed to its long-term strategy of enhancing profitability through technological innovation.
ABB
ABB's Q1 2024 results showed quarterly revenue of $7.87 billion, essentially unchanged from the same period last year. Although net profit attributable to the company fell to $905 million from $1,036 million in the year-ago quarter, ABB's leading position in industrial automation, robotics and smart grid remained solid. ABB's efforts in driving digital transformation and smart manufacturing have won more opportunities for it in the global market.
Schneider Electric
Schneider Electric announces results for the first quarter of 2024. Group revenue for the quarter was 8.606 billion euros (about 9.35 billion US dollars), a year-on-year increase of 1.3%.
While its revenue increased slightly in the first quarter, its industrial automation business declined, mainly due to increased competition in the market and fluctuations in demand in specific industries.
Despite this, Schneider Electric maintained strong growth momentum in its energy management business. Among them, the revenue of energy management business was 6.859 billion euros, a year-on-year increase of 5.8%. Industrial automation revenue was 1.747 billion euros, down 13% year-on-year.
Mitsubishi Electric
Mitsubishi Electric's results for the fiscal year ended March 31, 2024, showed revenue of 5,257.9 billion yen (about 33.8 billion U.S. dollars), a significant increase from the previous year.
Operating profit and net income attributable to shareholders of the Company also increased significantly to 328.5 billion yen and 284.9 billion yen from 262.3 billion yen and 213.9 billion yen in the previous year.
Mitsubishi Electric has achieved significant results in a variety of business areas, including infrastructure, industry and transportation, lifestyle, semiconductors and components, and business platforms.
The balanced development of these businesses provides strong support for Mitsubishi Electric's competitiveness in the global market.
Mitsubishi Heavy Industries (MHI) announced its results for the fiscal year ended March 31, 2024. Revenue for the fiscal year was 4,657.1 billion yen (about 29.9 billion U.S. dollars), compared to 4,202.7 billion yen in the previous year.
Net income attributable to owners of the parent company for the full year was 222.0 billion yen, compared to 130.4 billion yen in the previous year.
Among them, the power system business revenue was 1,761.5 billion yen, the industrial and infrastructure business revenue was 795.2 billion yen, the logistics, heat and transmission system business revenue was 1,314.5 billion yen, and the aerospace and defense business revenue was 791.5 billion yen.
Emerson
Emerson announced results for the fiscal second quarter ended March 31, 2024. Net sales for the quarter were $3,756 million, compared to $4,376 million in the year-ago quarter.
Net income attributable to common shareholders for the quarter was $792 million, compared to $501 million in the year-ago quarter.
Emerson President and Chief Executive Officer Frank Kong mentioned that the second quarter continued to deliver strong operational execution, with underlying sales growth, profit growth, and operating leverage and earnings exceeding our expectations in the second quarter.
The low-digit underlying order ratio growth, supported by process and hybrid end-market demand, was in line with base case expectations for the first half of fiscal 2024.
The continued focus on operational execution instills confidence in our FY2024 expectations.
Rockwell
Rockwell Automation announced results for the fiscal second quarter ended March 31, 2024. Quarterly sales were $2,126 million, compared to $2,275 million in the year-ago quarter.
Net income attributable to the Company for the quarter was $266 million, compared to $300 million in the year-ago quarter.
Hitachi
Hitachi announced its results for the fiscal year ended March 31, 2024. Revenue for the fiscal year was 9,728.7 billion yen (about 62.5 billion U.S. dollars), compared to 108811 billion yen in the previous year.
Adjusted operating profit for the full year was 755.8 billion yen, compared to 748.1 billion yen in the previous year. Net income attributable to shareholders of the Company for the full year was 589.8 billion yen, compared to 649.1 billion yen in the previous year.
Among them, the revenue of digital systems and services was 2,598.7 billion yen, the revenue of green energy and transportation was 3,052.3 billion yen, the revenue of connected industry was 3,058 billion yen, and the revenue of automotive systems was 1,164.4 billion yen.
FujiElectric Co., Ltd
FujiElectric Co., Ltd. Announced results for the fiscal year ended March 31, 2024. Net sales for the fiscal year were 1,103.2 billion yen (about 7.085 billion U.S. dollars), compared to 1,009.4 billion yen in the previous year.
Operating profit for the full year was 106.1 billion yen, compared to 88.9 billion yen in the previous year. Net income attributable to owners of the parent company for the full year was 75.4 billion yen, compared to 61.3 billion yen in the previous year.
FURUKAWA ELECTRICCO., LTD
FURUKAWA ELECTRICCO., LTD. Announced results for the fiscal year ended March 31, 2024. Net sales for the fiscal year were 1,056.5 billion yen (about 6.79 billion U.S. dollars), compared to 1,066.3 billion yen in the previous year.
Operating profit for the full year was 11,171 million yen, compared to 15,441 million yen in the previous year. Net income attributable to owners of the parent company for the full year was 6,508 million yen, compared to 15,894 million yen in the previous year.
Keyence, a Japanese factory measurement equipment company, announced its financial results for the fiscal year from March 21, 2023 to March 20, 2024. Net sales for the fiscal year were 967.3 billion yen (about 6.213 billion U.S. dollars), compared to 922.4 billion yen in the previous year.
Operating profit for the full year was 495.0 billion yen, compared to 498.9 billion yen in the previous year. Net profit attributable to owners of the parent company for the full year was 369.6 billion yen, compared to 363.0 billion yen in the previous year.
OMRON
OMRON announced its results for the fiscal year ended March 31, 2024.
Net sales for the fiscal year were 818.8 billion yen (about 5.259 billion U.S. dollars), compared to 876.1 billion yen in the previous year. Operating profit for the full year was 34.3 billion yen, compared to 100.7 billion yen in the previous year. Net income attributable to owners of the parent company for the full year was 8.1 billion yen, compared to 73.9 billion yen in the previous year.
Conclusion
In 2024, the electric motor industry remains pivotal for technological and industrial advancements. The top 10 electric motor manufacturers— Siemens, the Swiss ABB Group, the French Schneider Electric and the Japanese Mitsubishi Electric about their financial report in 2024
Each company has maintained a robust market presence, continually adapting to the evolving demands of the industry. Their investments in research and development have led to significant advancements in motor efficiency, sustainability, and performance, positioning them as industry leaders.
The competitive landscape drives continuous improvement and innovation, crucial in an era marked by global electrification and sustainability efforts. These manufacturers are at the forefront of developing solutions that cater to various sectors, from automotive to industrial applications.
Future Outlook
Looking ahead, the electric motor industry is set for sustained growth and transformation. Emerging trends such as the integration of smart technologies, increased focus on energy efficiency, and the expansion of electric vehicles will shape the future. Companies that adapt to these trends and maintain their innovative edge will likely dominate the market.
In conclusion, the electric motor manufacturers highlighted in this article are not only industry leaders today but are also well-positioned to drive future advancements. As technology and market demands evolve, these companies will play a crucial role in shaping a more sustainable and efficient future.
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