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Press Release11 August 2022Siemens AGMunich
Earnings Release and Financial Results Q3 FY 2022: Strong top line momentum and solid execution – outstanding Free cash flow
We
captured significant opportunities in a market environment with ongoing high
demand. Our strong top line momentum continued, with a comparable order growth
of 20 percent since the beginning of fiscal 2022. This shows: Our business is
attractive and grew once again. We have the right offerings and the right
strategy to be successful even in uncertain times. We made significant progress
as a focused technology company in the third quarter with the launch of our
open digital business platform, Siemens Xcelerator, accelerating the digital
transformation of our customers. We also acquired Brightly Software, an
outstanding software-as-a-service player in the building space, which perfectly
complements our leading position in smart buildings.
Roland Busch, President and Chief Executive Officer of Siemens AG
Our
continued top line momentum translated into a record, high-quality and
high-quantity order backlog of €99 billion. We again achieved outstanding Free
cash flow of €2.3 billion, which further underscored our financial strength. In
addition, we consistently and successfully implemented our portfolio
optimization and sharply accelerated our share buyback program.
Ralf P. Thomas, Chief Financial Officer of Siemens AG
Please read the complete Earnings Release and Financial Results:
Earnings Release Q3 FY 2022: Strong top line momentum and solid execution – outstanding Free cash flowOutlook
For the Siemens Group we continue to
expect 6% to 8% growth in comparable revenue, net of currency translation and
portfolio effects, and a book-to-bill ratio above 1.
Digital Industries continues to
expect to achieve comparable revenue growth of 9% to 12% for fiscal 2022 and a
profit margin of 19% to 21%.
Smart Infrastructure continues to
expect comparable revenue growth of 6% to 9% for fiscal 2022 and a profit
margin of 12% to 13%.
Mobility continues to expect revenue
for fiscal 2022 on the prior-year level. The profit margin is now expected to
be 7.5% to 8.5% (previously 10% to 10.5%).
We continue to expect profitable
growth of our Industrial Business to drive basic EPS from net income before
purchase price allocation accounting (EPS pre PPA). Following the €2.7 billion
non-cash impairment of our stake in Siemens Energy AG in the third quarter of
the fiscal year, the guidance must be adjusted to include the corresponding
earnings impact of €3.37 per share, resulting in a range for EPS pre PPA of
€5.33 to €5.73. This range represents our original guidance for EPS pre PPA of
€8.70 to €9.10, excluding the impairment.
This outlook excludes burdens
from legal and regulatory matters.
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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 (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 is a Quarterly Statement according to § 53 of the Exchange Rules for the Frankfurter Wertpapierbörse.
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 (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 is a Quarterly Statement according to § 53 of the Exchange Rules for the Frankfurter Wertpapierbörse.