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News13 November 2017Siemens AGSiemens Korea, Seoul

[Global News] Targets achieved - another outstanding year for Siemens

Revenue increased in the majority of industrial businesses, including sharp growth at SGRE(Siemens Gamesa Renewable Energy) due to portfolio effects, double-digit growth in Digital Factory and clear growth in Mobility. On the other hand, improvements at the majority of the industrial businesses more than offset by a sharp profit decline at Power and Gas in a highly competitive market environment. Nevertheless, Fourth-quarter orders climbed 16% year-over-year, to €23.7 billion, driven by a higher volume from large orders, and revenue rose 2%, to €22.3 billion. "Most businesses are stronger than ever and well equipped for the digital age. Nevertheless, we have to tackle structural issues in some individual businesses. There is a lot of work ahead of us in fiscal 2018. We will take advantage of our opportunities in the market and handle challenges carefully, responsibly and rigorously" said Joe Kaeser, President and Chief Executive Officer of Siemens AG.
Financial Highlights:
  • Revenue rose 4%, to €83.0 billion; orders were strong at €85.7 billion, just 1% below the high level a year ago despite substantial, ongoing contraction in markets for the Power and Gas Division which recorded large orders in Egypt totaling €4.7 billion in the prior year; the book-to-bill ratio was 1.03
  • On a comparable basis, excluding currency translation and portfolio effects, revenue rose 3% and orders declined 2%
  • Industrial Business profit rose 8%, to €9.5 billion, with double-digit increases at Building Technologies, Digital Factory, Mobility and Process Industries and Drives more than offsetting declines at Power and Gas and Siemens Gamesa Renewable Energy (SGRE)
  • Industrial Business profit margin reached 11.2%, with a majority of businesses within or above their target ranges
  • Net income up 11%, to €6.2 billion, driven by the strong operating performance; basic earnings per share (EPS) of €7.44, well within the guidance range

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