Siemens AG performed solidly in the second quarter of fiscal 2020. Revenue remained nearly unchanged, while net income declined to €697 million compared to the strong prior-year quarter. Orders were down primarily due to a lower volume from major orders at Siemens Mobility year-over-year. In view of the current situation, Siemens will no longer confirm its original guidance for fiscal 2020. Nonetheless, the company sees itself well positioned both operationally and strategically for the coming quarters. Implementation of Siemens’ Vision 2020+ strategy is right on track, and the company is making faster progress than expected in achieving its cost targets.