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Press Release10 August 2023Siemens AGMunich
Earnings Release and Financial Results Q3 FY 2023
We
again achieved profitable growth and showed our competitive strength across all
our businesses. We have seen normalization of demand, particularly in China and
in short-cycle business. I’m very pleased that our financial performance was
again strong and resilient. We continue to execute our strategy of creating
high-value growth and accelerating our customers’ digital transformation and
sustainability journeys.
Roland Busch, President and Chief Executive Officer of Siemens AG
Again
in the third quarter our excellent Free cash flow reflected our businesses’
strong performance. In addition, an upgrade of our credit rating by Moody’s underlines
our financial strength. We are ideally positioned to continue creating value
for our shareholders, customers and employees.
Ralf P. Thomas, Chief Financial Officer of Siemens AG
Please read the complete Earnings Release and Financial Results:
Earnings Release Q3 FY 2023, April 1 to June 30, 2023: Continued profitable growth and excellent free cash flowStarting today at 08:00 a.m. CEST,
the press conference call on Siemens' third-quarter results for fiscal 2023
will be broadcast live at
www.siemens.com/conferencecall.
Starting today at 09:30 a.m. CEST,
you can also follow the conference call for analysts live in English at
www.siemens.com/analystcall.
Recordings of both conference calls will be made
available afterwards.
Outlook
For the Siemens Group we continue to
expect comparable revenue growth, net of currency translation and portfolio
effects, in the range of 9% to 11% and a book-to-bill ratio above 1.
Digital Industries now expects for
fiscal 2023 to achieve comparable revenue growth of 13% to 15% (previously
expected at 17% to 20%). The profit margin is now expected to be in the range
of 22% to 23% (previously expected at 22.5% to 23.5%).
Smart Infrastructure continues to
expect for fiscal 2023 comparable revenue growth of 14% to 16% and a profit margin
in the range of 14.5% to 15.5%.
Mobility continues to expect for
fiscal 2023 comparable revenue growth of 10% to 12% and a profit margin in the
range of 8% to 10%.
We continue to expect the profitable
growth of our industrial businesses to drive an increase in EPS pre PPA to a
range of €9.60 to €9.90 in fiscal 2023 excluding Siemens Energy Investment,
which during the first nine months of fiscal 2023 contributed €902 million to
Net income and corresponding EPS pre PPA of €1.14.
This outlook excludes burdens from
legal and regulatory matters.
Press Event
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Notes and forward-looking statements
This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Combined Management Report of the Siemens Report ( www.siemens.com/siemensreport), and in the Interim Group Management Report of the Half-year Financial Report (provided that it is already available for the current reporting year), which should be read in conjunction with the Combined Management Report. Should one or more of these risks or uncertainties materialize, should decisions, assessments or requirements of regulatory authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks in the Combined Management Report of the Siemens Report ( www.siemens.com/siemensreport), and in the Interim Group Management Report of the Half-year Financial Report (provided that it is already available for the current reporting year), which should be read in conjunction with the Combined Management Report. Should one or more of these risks or uncertainties materialize, should decisions, assessments or requirements of regulatory authorities deviate from our expectations, should events of force majeure, such as pandemics, unrest or acts of war, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.