Siemens 4Q Earnings Rose, Driven by Digital Industry, Smart Infrastructure Businesses
November 17 2022 - 1:47AM
Dow Jones News
By Pierre Bertrand
Siemens AG said Thursday that fourth-quarter earnings rose as
revenue increased in all industrial businesses, led by double-digit
growth at its digital-industries and smart-infrastructure
divisions.
The German industrial company's quarterly profit rose to 2.70
billion euros ($2.81 billion) from EUR1.17 billion for the
prior-year period on sales that grew 18% to EUR20.57 billion.
Net profit for the full fiscal year that ended in September came
in at EUR3.72 billion compared with EUR6.16 billion in fiscal
2021.
The Munich-based company said it had orders for the fourth
quarter valued at EUR21.82 billion, up from the EUR19.07 billion
for the prior-year period.
Orders were boosted by strong demand for data centers and
digital building services at its smart infrastructure unit, while
digital industries benefited from larger software contracts,
Siemens said.
Siemens said it proposes to increase its dividend to EUR4.25
from EUR4.0 a share.
For fiscal 2023, Siemens said that it expects comparable revenue
growth excluding currency translation and portfolio effects in the
range of 6% to 9% and a book-to-bill ratio of above 1.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
November 17, 2022 01:32 ET (06:32 GMT)
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