Industrial business gives Siemens historical net profit of 8.5 billion euros

Siemens achieved its best result ever in the 2023 fiscal year, ending September 30, 2023: orders increased by 7% to 92.3 billion euros and revenues grew by 11% to 77.8 billion euros; record free cash flow of 10 billion euros; net profit of 8.5 billion euros is historic and almost double the previous fiscal year; will propose the distribution of a dividend of 4.7 euros per share to shareholders; and expects revenue growth of between 4 and 8% in 2024.

The German multinational, with strong and long-standing operations in Portugal, continued its path of profitable growth and located several new records during this year. In a historic performance that broke records, it increased revenues by 11% in this period, corresponding to the upper limit of the forecast given by the company (9 to 11% revenue growth). The contribution to this result was the industrial business, which achieved the best result ever in terms of profitability.

The company's shareholders will also benefit from this extraordinary performance. The Board of Directors and Supervisory Board have proposed an increase in the dividend from €4.25 in fiscal 2022 to €4.7 per share in fiscal 2023.

Roland Busch, President and Chief Executive Officer (CEO) of Siemens AG, highlights this powerful end for the company: “Fiscal year 2023 was a year of multiple records. In the industrial business, profit and profit margin reached the highest levels ever and the net result was almost applied, also reaching an all-time high. I would like to thank all our colleagues around the world for the enormous contribution they made to these extraordinary results. Our strategy is bearing fruit and we will continue to accelerate our customers’ digital and sustainability transformations.”

Source: Siemens / AIP