Siemens reported revenues of 72 billion Euro, up 8.2 percent in fiscal 2022

In fiscal 2022, Siemens increased revenue on a comparable basis – without currency translation and portfolio effects – 8.2 percent to 72.0 billion Euro (fiscal 2021: 62.3 billion Euro) and thus exceeded its guidance for revenue growth (6 percent to 8 percent). Orders grew 17 percent on a comparable basis to 89.0 billion Euro (fiscal 2021: 71.4 billion Euro).

Digital business continued to grow rapidly and climbed around 15 percent to 6.5 billion Euro (fiscal 2021: 5.6 billion Euro), enabling Siemens to considerably exceed its announced growth rate of an average annual growth of 10 percent.

Profit of the Industrial Business also set a new record, increasing 17 percent to 10.3 billion Euro (fiscal 2021: 8.8 billion Euro). The profit margin of the Industrial Business improved to 15.1 percent. Net income came in at 4.4 billion Euro (fiscal 2021: 6.7 billion Euro). This decline was primarily due to the non-cash impairment of 2.7 billion Euro in Q3 2022 related to the company’s stake in Siemens Energy.

Siemens’ outlook for fiscal 2023 is based on the assumptions that geopolitical tensions do not further escalate and challenges from COVID-19 and supply chain constraints continue to ease. Under these conditions, with the company’s high order backlog, particularly in short-cycle businesses, Siemens expects its industrial businesses to continue their profitable growth.

For the Siemens Group, the company expects comparable revenue growth, net of currency translation and portfolio effects, in the range of 6 percent to 9 percent and a book-to-bill ratio above 1.

Digital Industries expects for fiscal 2023 to achieve comparable revenue growth of 10 percent to 13 percent. The profit margin is expected to be 19 percent to 22 percent.

Smart Infrastructure expects for fiscal 2023 comparable revenue growth of 8 percent to 11 percent. The profit margin is expected to be 13 percent to 14 percent.

Mobility expects for fiscal 2023 comparable revenue growth of 6 percent to 9 percent. The profit margin is expected to be 8 percent to 10 percent.