Siemens achieves record profit at the end of its fiscal year and raises its dividend

Anticipates a slowdown in business in the current year

MADRID, 16 Nov. (EUROPA PRESS) -

The German engineering group Siemens obtained a record attributable net profit of 7,949 million euros at the end of its fiscal year, which ended on September 30, which represents an improvement of 113% compared to the result of 3,723 million recorded by the multinational in the previous year, when its accounts were burdened by the adjustment of the value of its stake in Siemens Energy and the withdrawal of Russia.

The German company's turnover for the entire year reached 77,769 million euros, 8% above the income recorded in the previous year in absolute data, while in comparable figures, the increase was 11%. For its part, orders received increased 4% year-on-year, up to 92,305 million.

Specifically, Siemens' digital business increased its revenue by 12%, up to 21,919 million, while the intelligent infrastructure area had a turnover of 19,946 million, 15% more. For its part, Siemens' mobility business increased its turnover by 9%, up to 10,549 million, while the medical technology unit brought in 21,681 million, in line with the previous year.

On the other hand, the multinational indicated that Siemens Energy Investment recorded a negative result of 234 million due to its participation in Siemens Energy, in which the 25.1% participation that Siemens retains reached a book value of 1,800 million euros at the time. end of the fourth quarter of fiscal year 2023.

Between July and September, the fourth fiscal quarter for Siemens, the German company obtained an attributable net profit of 1,718 million euros, 36.4% below the result corresponding to the same period of the previous year.

Likewise, the turnover in the quarter grew by 4% in absolute figures and 10% comparable, up to 21,393 million euros, while orders received remained stable at 21,803 million.

"Fiscal year 2023 was a multi-record year: In our industrial business, profits and profit margin reached their highest levels ever, and we nearly doubled our net profit to an all-time high," said Roland Busch, president and CEO. CEO of Siemens.

"In fiscal 2023, Siemens continued its path of value-creating growth and, for the first time, exceeded €10 billion in free cash flow."

Thus, the financial director of Siemens, Ralf P. Thomas, indicated that the company's shareholders will benefit from this success, with a proposal to increase dividends to 4.70 euros, compared to 4.25 euros for the year. preceding.

However, for the year as a whole, the German company anticipates a growth in comparable income of between 4% and 8%, which would represent a slowdown compared to the 11% of the recent year ended.

In the case of the digital industries unit, Siemens expects comparable revenues to remain stable or grow by up to 3% taking into account stock reduction by customers, while global demand in the automation businesses, especially in China, it will recover in the second half of the fiscal year, while it expects the profit margin to be 20% to 23%.

For its part, in intelligent infrastructures it foresees a growth in comparable income of between 7% and 10% and that the profit margin will range between 15% and 17%.

Likewise, in the mobility area it anticipates comparable revenue growth of 8% to 11% and a profit margin of 8% to 10%.