Business at the technology group continues to go well. Sales of software and digital services have also increased recently.
(Photo: dpa)
Munich After a strong first quarter, Siemens has raised its forecast for the current fiscal year. “With a result of 2.7 billion euros in the industrial business, we have had the strongest start to a new financial year to date,” said CEO Roland Busch on Wednesday evening in Munich.
Despite the global uncertainties, the technology group was able to largely maintain its growth momentum. In the first quarter of 2022/23, sales rose by a comparable ten percent to 18.1 billion euros. Incoming orders fell by eight percent to 22.6 billion euros. But it was also above the expectations of some analysts. In the same period of the previous year, major orders for the Mobility train division, among others, had increased the value.
For the year as a whole, Busch now expects sales growth of seven to ten percent – instead of the previous six to nine percent. Siemens is now expecting earnings per share before special items to be between EUR 8.90 and EUR 9.40 (previously EUR 8.70 to EUR 9.20).
In the past fiscal year 2021/22, Siemens had already achieved a record operating profit of 10.3 billion euros. Sales improved by a comparable eight percent to almost 72 billion euros. “Siemens has become a growth company,” said Chairman of the Supervisory Board Jim Hagemann Snabe at the Annual General Meeting on Thursday, according to the text of the speech. The group has gained market shares in important key markets.
The Digital Industries division is growing particularly strongly
The digital businesses have recently developed particularly well. The flagship division Digital Industries was able to increase sales by a comparable 15 percent to 5.1 billion euros in the first quarter. The margin is a good 22.5 percent.
Siemens again did better than some of its competitors. The US specialist Rockwell Automation increased sales in the first quarter of 2022/23 by almost ten percent to just under two billion dollars. Operating profit rose by almost 13 percent to 401 million dollars. This corresponded to a margin of 20.2 percent.
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