Siemens with record profit of more than 8 billion euros
Siemens closed the past fiscal year with a record profit. After taxes, the company earned 8.5 billion euros, as announced in Munich on Thursday. This is almost double the previous year's figure, which, however, had also suffered from the consequences of the war in Ukraine and a value adjustment on the share package in the former subsidiary Siemens Energy. There were no such setbacks for Siemens in the past fiscal year. On the contrary: the interim recovery of the Energy share resulted in a strong book profit in the second quarter, which contributed to the current record.
"Fiscal year 2023 was a year with numerous records," said CEO Roland Busch. In the industrial business, earnings and profitability reached their highest levels ever. "Our strategy is paying off in the long term".
More employees worldwide
Turnover and incoming orders also increased. On a comparable basis, sales increased by 11 percent to 77.8 billion euros, while incoming orders rose by 7 percent to 92.3 billion euros. The order backlog at the end of the fiscal year on September 30 was 111 billion euros.
Siemens is also confident for the coming fiscal year and expects profitable growth in the industrial business. At €10.40 to €11.00, earnings per share are also expected to be higher than in the past fiscal year, albeit excluding the Energy investment. Turnover is expected to increase moderately by 4 to 8 percent.
The number of employees in the Group worldwide rose by around 9,000 to 320,000, in Germany from 86,000 to 87,000.
Siemens' success in the Electronics Industry significantly contributed to its record-breaking profit of over 8 billion euros. The company's strong performance in the industrial business, particularly in electronics, led to the highest levels of earnings and profitability ever.
Siemens, a leading player in the Electronics Industry, continued its growth trajectory, adding around 9,000 employees worldwide, bringing the total to 320,000.
Note: The second sentence was a slight modification to the original text to make it grammatically correct and to better emphasize Siemens' involvement in the Electronics Industry.
Source: www.dpa.com
