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Siemens reported strong revenue growth for fiscal year 2022. Net income more than doubled

Autor: Financial Market
Timp de citit: 2 minute

Siemens delivered strong performance in fiscal year 2022 that ended at 30 september, with a record-high profit of more than €10 billion in Industrial Business.

Strong demand continues for hardware and software offerings, including higher than expected growth for digital business revenue. The company generated free cash flow of €8.2 billion overall and propose an increase of the dividend to €4.25, a corresponding dividend yield of 4.2 percent and accelerated share buyback, as well as a reduction in the number of shares outstanding.

Financial highlights

Revenue for the fourth quarter climbed 18% year-over-year, to €20.6 billion, while orders increased 14% year-over-year, reaching €21.8 billion, for a book-to-bill ratio of 1.06
Revenue rose 12% and orders grew 7% on a comparable basis, excluding currency translation and portfolio effects
Profit Industrial Business climbed 38%, to €3.2 billion, with a profit margin of 16.2%, on profit increases in all industrial businesses
Net income more than doubled to €2.9 billion for the quarter due to the strong performance of the Industrial Business and benefiting from a gain on the sale of the mail and parcel-handling business of Siemens Logistics; corresponding basic earnings per share (EPS) rose to €3.39 and EPS before purchase price allocation accounting (EPS pre PPA) climbed to €3.59
Free cash flow from continuing and discontinued operations was €3.5 billion

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For the full fiscal year 2022, orders rose 25%, to €89.0 billion and revenue increased 16%, to €72.0 billion, for a book-to-bill-ratio of 1.24; on a comparable basis, orders were up 17% and comparable revenue growth of 8.2% exceeded guidance.

Fiscal 2022 Profit Industrial Business grew 17% year-over-year to a record-high €10.3 billion; net income came in at €4.4 billion, corresponding basic EPS was €4.65, and EPS pre PPA was €5.47 thus fulfilling the guidance from Q3 FY 2022. Siemens proposes to increase the dividend from €4.00 a year earlier to €4.25 per share