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Press Release16 November 2023Siemens AGMunich
Earnings Release and Financial Results Q4 FY 2023
Fiscal
2023 was a year of multiple records: In our Industrial Business, profit and
profit margin reached their highest levels ever, and we nearly doubled our net
income to a historic high. I would like to thank all our colleagues around the
world for their tremendous contribution to these outstanding results. Our
strategy is paying off, and we continue to accelerate the digital and
sustainability transformations of our customers.
Roland Busch, President and Chief Executive Officer of Siemens AG
In
fiscal 2023, Siemens continued its path of value-creating growth and, for the
first time ever, exceeded €10 billion in free cash flow. Our shareholders will benefit from this
success, with a proposed dividend increase to €4.70, a corresponding dividend
yield of 3.5 percent and our expanded share-buyback program.
Ralf P. Thomas, Chief Financial Officer of Siemens AG
Please read the complete Earnings Release and Financial Results:
Earnings Release Q4 FY 2023, July 1 to September 30, 2023: Powerful finish to record fiscal yearStarting today at 08:00 a.m. CET,
the press conference on Siemens' fourth-quarter results and the preliminary
figures for fiscal 2023 will be broadcast live at
www.siemens.com/pressconference.
Starting today at 10:00 a.m. CET,
you can also follow the conference call for analysts and investors live at
www.siemens.com/analystcall.
Recordings of the press conference
and the conference call for analysts and investors will be made available
afterwards.
The financial publications can be
downloaded at:
www.siemens.com/ir.
Outlook
Our outlook for the Siemens Group
for fiscal 2024 is based on the assumption that geopolitical tensions do not
further increase. Under this condition, we expect our Industrial Business to
continue its profitable growth.
For the Siemens Group we expect
comparable revenue growth, net of currency translation and portfolio effects,
in the range of 4% to 8% and a book-to-bill ratio above 1.
Digital Industries expects for
fiscal 2024 comparable revenue development of 0% to 3%. This is based on the
assumption that following destocking by customers, global demand in the
automation businesses, especially in China, will pick up again in the second
half of the fiscal year. The profit margin is expected to be 20% to 23%.
Smart Infrastructure expects for
fiscal 2024 comparable revenue growth of 7% to 10%. The profit margin is
expected to be 15% to 17%.
Mobility expects for fiscal 2024
comparable revenue growth of 8% to 11%. The profit margin is expected to be 8%
to 10%.
We expect this profitable growth of
our Industrial Business to drive an increase in basic EPS from net income
before purchase price allocation accounting (EPS pre PPA) excluding Siemens
Energy Investment to a range of €10.40 to €11.00 in fiscal 2024, up from EPS
pre PPA excluding Siemens Energy Investment of €9.93 in fiscal 2023.
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 ( 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.
All information is preliminary.
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.
All information is preliminary.