Siemens 4Q Earnings Rose, Driven by Digital Industry, Smart Infrastructure Businesses

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 [e-mail]

(END) Dow Jones Newswires

November 17, 2022 01:32 ET (06:32 GMT)

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