- Siemens on Thursday posted a ten% rise in income progress for its fiscal fourth quarter to a document excessive of 21.4 billion euros ($23.2 billion), beating forecasts, however expects a slowdown in 2024.
- The German industrial conglomerate tasks gross sales progress of 4-8% over the following 12 months, down from the 11% enhance recorded for the 2023 fiscal yr that led to September, due primarily to a muted outlook for its industrial automation division.
- The commercial powerhouse loved document quarterly and full-year outcomes, because it closed out the fiscal yr.
Exterior view of the Siemens Discussion board, a part of the Siemens Headquarters, in Munich, Germany.
Getty Photographs
Siemens on Thursday posted a ten% rise in income progress for its fiscal fourth quarter to a document excessive of 21.4 billion euros ($23.2 billion), beating forecasts, however expects a slowdown in 2024.
The German industrial conglomerate tasks gross sales progress of 4-8% over the following 12 months, down from the 11% enhance recorded for the 2023 fiscal yr that led to September, due primarily to a muted outlook for its industrial automation division.
“Digital Industries expects for fiscal 2024 comparable income growth of 0% to three%. That is based mostly on the belief that following destocking by prospects, world demand within the automation companies, particularly in China, will choose up once more within the second half of the fiscal yr,” the group stated in its earnings report.
Nevertheless, the economic powerhouse loved document quarterly and full-year outcomes, because it closed out the fiscal yr.
Industrial revenue grew 7% to a document 3.4 billion euros within the fourth quarter, above a company-compiled forecast of three.34 billion euros, to notch a document excessive of 11.4 billion euros for the yr.
Web revenue was 1.9 billion euros for the quarter, taking the full-year determine to a historic excessive of 8.5 billion euros, whereas free money move additionally notched a document 10 billion euros for the complete yr.
Siemens proposed to extend its dividend from 4.25 euros per share a yr earlier to 4.70 euros per share.
“Fiscal 2023 was a yr of a number of information: In our Industrial Enterprise, revenue and revenue margin reached their highest ranges ever, and we practically doubled our web revenue to a historic excessive,” Siemens President and CEO Roland Busch stated in an announcement.
“Our technique is paying off, and we proceed to speed up the digital and sustainability transformations of our prospects.”
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