Revenue increased 8.2% on a comparable basis to EUR72 billion in FY2022 (FY2021: EUR62.3 billion)

Industrial Businesses posted record profits of €10.3 billion (FY2021: €8.8 billion), with physical margins growing to 15.1% (FY2021:15.0%)

Excellent free cash flow performance, again €8.2 billion (FY2021: €8.2 billion)

Digital revenue increased by approximately 15% to €6.5 billion (FY2021: €5.6 billion)

Proposed dividend per share of €4.25 (FY2021: €4.00)

Fy2023 Outlook: Revenue is expected to grow 6% to 9% on a like-for-like basis, with basic EPS of €8.70 to €9.20, based on net income before acquisition price allocation

Siemens achieved another excellent performance in fiscal year 2022 (October 1, 2021 to September 30, 2022). The company's four physical businesses all achieved growth in new orders and revenue, and maintained strong momentum. In some of these areas, the growth has been particularly dramatic. Siemens once again achieved growth in all its key markets, despite a complex macroeconomic environment, which has been affected by economic sanctions against Russia, high inflation and the COVID-19 pandemic. In addition, Siemens avoided supply chain disruptions in FY22 despite facing supply chain risks related to electronic components, raw materials and logistics.

 

Shareholders will also benefit from the company's superior performance. The increase in the dividend per share proposed by the supervisory and Management Boards of Siemens AG to EUR4.25, up from EUR4.00 in the previous fiscal year, reflects not only the strong performance of Siemens in the 2022 fiscal year, but also the company's strong confidence in the future.

 

Roland Busch, Chairman, President and Chief Executive Officer of Siemens AG, said, "Siemens achieved another year of strong performance in the 2022 financial year, with a record physical business profit of over 10 billion euros. We have successfully implemented our strategy, captured market share and achieved high-quality growth. Demand for Siemens hardware and software solutions remained strong, and our digital revenues grew faster than expected. Each of our colleagues has contributed greatly to our success in such a challenging year."

 

"Siemens is doing well, as always. Our free cash flow reached another excellent level of 8.2 billion euros in FY22, with record profits from the physical business." "Our outstanding business performance will benefit shareholders," said Ralf P. Thomas, Chief Financial Officer of Siemens AG. With a dividend increase to €4.25 per share, a corresponding dividend yield of 4.2%, and an accelerated share buyback to reduce the number of shares outstanding, Siemens will continue to be a strong investment attraction."

 

Overachieving annual revenue targets guided free cash flow to remain strong

Excluding the impact of currency changes and business mix, Siemens' fiscal year 2022 revenue rose 8.2% on a like-for-like basis to EUR72 billion (FY2021: EUR62.3 billion), exceeding the target guidance for annual revenue growth of 6% to 8%. New orders increased 17% on a comparable basis to EUR89 billion (FY2021: EUR71.4 billion). The order to shipment ratio was outstanding at 1.24 (FY2021:1.15). Reserve orders totaled 102 billion euros, a record high and a high level of quality.

 

In FY2022, Siemens digital revenues continued to grow at a high rate, reaching €6.5 billion (FY2021: €5.6 billion), up about 15%, well above the previously announced average forecast of 10% growth.

 

Physical business profits rose 17% to a record €10.3 billion (FY2021: €8.8 billion). Physical margins improved to 15.1%. Net income was €4.4 billion (FY2021: €6.7 billion). The decline in net income was mainly due to a 2.7 billion euro non-cash impairment of the company's stake in Siemens Energy in the third quarter. Basic earnings per share, based on net income before apportionment of the purchase price, would be EUR 5.47 (FY2021: EUR 8.32) or EUR 8.84 excluding the impact of impairment of the Siemens Energy stake.

 

At the group level, Siemens' free cash flow from going and non-going operations was EUR 8.2 billion, once again the highest recorded in the previous financial year (FY2021: EUR 8.2 billion), with physical free cash flow performing well at EUR 9.7 billion (FY2021: EUR 9.8 billion).

 

The fourth quarter ended strongly

New orders climbed to EUR21.8 billion in Q4 FY2022 (Q4 FY2021: EUR19.1 billion), with strong growth particularly in the Smart Infrastructure Group and Siemens Healthcare. Revenue rose 12% on a comparable basis to EUR20.6 billion (Q4 FY2021: EUR17.4 billion). Physical businesses across the board contributed to revenue growth, with the Digital Industrial Group and Intelligent Infrastructure Group in particular Posting double-digit revenue growth. The order to shipment ratio was 1.06, still well above 1.