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Earnings Release and Financial Results Q1 FY 2023: Flying start to fiscal 2023 – Guidance raised


Following the strong start in fiscal 2023, we raise our outlook for fiscal 2023. 
For the Siemens Group we now expect comparable revenue growth, net of currency translation and portfolio effects, in the range of 7% to 10% (previously expected at 6% to 9%) and continue to expect a book-to-bill ratio above 1.
Digital Industries now expects for fiscal 2023 to achieve comparable revenue growth of 12% to 15% (previously expected at 10% to 13%). The profit margin is now expected to be 20% to 22% (previously expected at 19% to 22%).
Smart Infrastructure now expects for fiscal 2023 comparable revenue growth of 9% to 12% (previously expected at 8% to 11%). The profit margin is now expected to be 13.5% to 14.5% (previously expected at 13% to 14%). 
Mobility continues to expect for fiscal 2023 comparable revenue growth of 6% to 9% and a profit margin in the range of 8% to 10%.
We now expect this profitable growth of our industrial businesses to drive an increase in basic EPS from net income before purchase price allocation accounting (EPS pre PPA) to a range of €8.90 to €9.40 (previously expected at €8.70 to €9.20) in fiscal 2023.
This outlook excludes burdens from legal and regulatory matters and material impairments.

Please read the complete Earnings Release and Financial Results:  
Earnings Release Q1 FY 2023 October 1 to December 31, 2022: Flying start to fiscal 2023 – Guidance raised 

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We achieved our all-time strongest start to a new fiscal year, with €2.7 billion in profit in our Industrial Business. The impressive growth momentum of our business in the first quarter once again highlights the great trust that our customers place in the relevance of our portfolio and our ability to perform. Our outstanding order backlog in terms of quality and quantity, together with the strong execution capabilities throughout Team Siemens, provide confidence for raising our outlook for fiscal 2023.

Roland Busch, President and Chief Executive Officer of Siemens AG

In the first quarter of fiscal 2023, we were able to seamlessly continue our strong operational performance from fiscal 2022. Digital Industries and Smart Infrastructure, in particular, achieved excellent results for both top and bottom line. With full order books and a temporary and deliberate build-up of critical inventories, we are well prepared for further profitable growth in the upcoming quarters. Accordingly, we raise our revenue and earnings targets for fiscal 2023.

Ralf P. Thomas, Chief Financial Officer of Siemens AG

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Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.
In fiscal 2022, which ended on September 30, 2022, the Siemens Group generated revenue of €72.0 billion and net income of €4.4 billion. As of September 30, 2022, the company had around 311,000 employees worldwide. Further information is available on the Internet at
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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 (, 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 is a Quarterly Statement according to § 53 of the Exchange Rules for the Frankfurter Wertpapierbörse.
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Florian Martens

Siemens AG

+49 162 230-6627 

Katharina Hilpert 

Siemens AG

+49 173 893-4962

Simon Friedle

Siemens AG

+49 1525 215-9076