Please use another Browser

It looks like you are using a browser that is not fully supported. Please note that there might be constraints on site display and usability. For the best experience we suggest that you download the newest version of a supported browser:

Internet Explorer, Chrome Browser, Firefox Browser, Safari Browser

Continue with the current browser
News10 August 2023Siemens AGSiemens Korea, Seoul

[Global News] Continued profitable growth and excellent free cash flow

The strong profit growth of the third quarter mainly came from Smart Infrastructure and Digital Industries both achieving high revenue growth. The growth at Digital Industries was driven primarily by the automation businesses – especially by the factory automation and process automation businesses, while Smart Infrastructure reported orders nearly at the high level of Q3 2022, which had benefited from proactive customer purchasing particularly in the short-cycle businesses. Mobility again achieved a record-high quarterly order intake with a number of major contract wins including a €2.5 billion order in Egypt and a €2.1 billion order in Germany.
“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,” said Roland Busch, President and Chief Executive Officer of Siemens AG. “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.”

Financial Highlights:

  • Orders rose 15% and revenue grew 10% on a comparable basis, excluding currency translation and portfolio effects
  • On a nominal basis, orders grew 10% to €24.2 billion, driven by sharply higher volume from large orders in Mobility, while revenue was up 6% year-over-year at €18.9 billion including increases in all industrial businesses; the book-to-bill ratio was 1.28
  • Profit Industrial Business was €2.8 billion with a profit margin of 15.3%, including substantial increases in Digital Industries and Smart Infrastructure; profit Industrial Business in Q3 FY 2022 of €2.9 billion benefited from a €0.7 billion divestment gain in Mobility
  • On Net income of €1.4 billion, corresponding basic earnings per share (EPS) were €1.61 and EPS before purchase price allocation accounting (EPS pre PPA) were €1.78; a net loss of €1.5 billion in Q3 FY 2022 was due primarily to an impairment of the stake in Siemens Energy recorded in the amount of €2.7 billion
  • Free cash flow from continuing and discontinued operations was again excellent, reaching €3.0 billion for the quarter

Learn More

Follow us on Facebook

Contact

Siemens Korea

D-Tower
17, Jong-ro 3-gil, Jongno-gu
Seoul 03155
Republic of Korea

+82 (2) 3450 7000