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Siemens' new orders grew 42% year on year
Add Time: 2022-03-26   |   Hits:2

In the first quarter of fiscal 2022, Siemens' new orders increased 42% year on year to eur24.2 billion (Q1 of fiscal 2021: EUR15.9 billion), with significant growth across all physical businesses

Revenue increased 9% year on year to EUR 16.5 billion (Q1 2021: EUR 14.1 billion)

Profits for Industrial Businesses jumped 12% to €2.5bn (1Q2021: €2.2bn)

Net income up 20% to €1.8 billion, confirms performance target guidance (1Q2021: €1.5 billion)

Free cash flow exceeded year-ago levels to eur 1.1 billion (1Q2021: EUR 1.0 billion)

The company agreed to sell its stake in its Valeo Siemens eAutomotive joint venture and spin off the postal and parcels business of Siemens Logistics

The annual General Meeting of Siemens Online will decide on the proposal of a dividend per share of eur 4.00 for fy2021 (FY2020: EUR 3.50)

Siemens has made a strong start to fiscal 2022 and continues to aggressively implement its development strategy as a focused technology company. In the first quarter (ended December 31, 2021), the company saw growth opportunities across its bricks-and-mortar businesses in a number of key markets. The Company confirms its performance target guidance for fiscal year 2022. At the same time, Siemens is building a more focused portfolio: The company has also found new owners for the postal and parcels business of Siemens Logistics and Siemens' stake in the Valeo Siemens eAutomotive joint venture, following the earlier announcement that it would sell its road transport business Yunex Traffic.

"We got off to a strong start in fiscal 2022 with high-quality growth across our businesses. We delivered excellent performance and increased earnings per share by 20 per cent before acquisition price amortization. At the same time, as a focused technology company, we continue to optimize our business portfolio." "Siemens is a leader in accelerating digitalization and sustainability, as evidenced by our performance," said Roland Busch, President and CEO of Siemens AG.

Ralf P. Thomas, CHIEF Financial Officer of Siemens AG, added: "Siemens maintained a strong performance across all key financial metrics in the first quarter of fiscal 2022. We are fully capitalising on growth opportunities in a number of key markets and have achieved free cash flow of up to €1bn."

Despite the increasingly complex macroeconomic environment due to COVID-19 and ongoing supply chain risks, Siemens' production operations remained stable, with the exception of some product delivery delays. Siemens will continue to spare no effort to optimize product delivery and work with customers to meet the challenges.

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