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News16 November 2023Siemens AGSiemens Korea, Seoul

[Global News] Powerful finish to record fiscal year

Siemens successfully continued its profitable growth trajectory and set multiple new records in fiscal 2023 (ended September 30, 2023). In a historic, record-breaking performance by Siemens’ operating business, revenue for the full year rose 11 percent on a comparable basis – excluding currency translation and portfolio effects – to the upper end of the company’s raised guidance (9 percent to 11 percent). The profit and profitability of the Industrial Business reached new record levels as did net income.

Siemens once again achieved a strong order intake which included a higher volume from large orders in Mobility, combined with growth in Siemens Healthineers and Smart Infrastructure despite a slight decline in orders for short-cycle automation businesses at Digital Industries. Record-high revenues were reached in all industrial businesses, led by highest growth contribution from Smart Infrastructure. In addition, Profit Industrial Business rose to its highest quarterly level ever on significant increases at Digital Industries and Smart Infrastructure, which also both achieved their highest-ever quarterly profits.

“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,” said Roland Busch, President and Chief Executive Officer of Siemens AG.

Financial Highlights:

Revenue rose 10% and orders grew 6% in the fourth quarter on a comparable basis, excluding currency translation and portfolio effects

On a nominal basis, revenue was up 4%, at €21.4 billion, on record-high revenues in all industrial businesses, while orders came in level with the prior-year period, at €21.8 billion, for a book-to-bill ratio of 1.02

Profit Industrial Business increased 7%, to €3.4 billion, the highest quarterly level ever; the profit margin was 16.5%

Net income was €1.9 billion; for comparison, net income of €2.9 billion in Q4 FY 2022 benefited from a €1.1 billion pretax gain on the sale of the mail and parcel-handling business; corresponding basic earnings per share (EPS) were €2.17 and EPS before purchase price allocation accounting (EPS pre PPA) were €2.34

Another excellent performance in cash generation resulted in €4.6 billion of Free cash flow for the Siemens Group

In a historic operating performance for the full fiscal year, comparable revenue grew 11%, reaching the upper end of our raised guidance, and comparable orders increased 7%; on a nominal basis, revenue increased 8%, to €77.8 billion, and orders were up 4%, at €92.3 billion, for a book-to-bill-ratio of 1.19

Fiscal 2023 Profit Industrial Business grew 11% year-over-year to a record-high €11.4 billion; net income nearly doubled to a historic high of €8.5 billion, corresponding basic EPS more than doubled to €10.04, and EPS pre PPA reached €10.77; we thus exceeded our guidance with EPS pre PPA of €9.93 excluding Siemens Energy Investment, which contributed €0.84 to EPS pre PPA; Free cash flow for the Siemens Group reached a record high of €10.0 billion