Report: Siemens with strong profit jump

Siemens closed the first fiscal year under the leadership of Roland Busch with a strong profit jump.

The group announced that earnings after taxes rose by 59 percent to 6.7 billion euros. Siemens thus exceeded its forecast, which had already been raised several times in the course of the fiscal year.

It was also the first fiscal year without the spun off energy division Siemens Energy, which was floated on the stock exchange in autumn 2020 and in which Siemens only holds a minority stake. Since then, the group has been calling itself a “focused technology company”. As such, they had a “very successful start,” said Busch – probably also because he was spared a large part of the losses in the former energy division.

Busch remains confident

Busch was also confident about the new financial year that began in October. “We will continue with this momentum in fiscal year 2022,” he announced. You are “optimally positioned”. The forecast, however, reads rather cautiously: One expects a similar result as in the past financial year – although this was pushed by special effects from sales amounting to 1.5 billion euros.

In the past fiscal year, Siemens raised its forecast several times. Three times when the quarterly figures are presented and once implicitly on Capital Markets Day. At that time, Siemens kept the forecast stable, even though additional costs were factored in.

Sales should grow more slowly in the coming year. While it had risen by 13 percent to 62.3 billion euros in 2021, the plus should now only be in the mid-single-digit percentage range.

The shareholders will also benefit from the development: The dividend is to rise by 50 cents to 4 euros per share.