Siemens announced an increase in quarterly revenue and orders as its industrial activities strengthened.
The German industrial group reported a net profit of 1.17 billion euros, compared to 1.76 billion euros a year ago, although last year’s figures included about 800 million euros in discontinued operations, as a result mainly the spin-off of Siemens Energy.
Net profit for the year 2021 increased to 6.16 billion euros from 4.03 billion euros.
Revenue for the quarter rose 18% to 17.44 billion euros, up 10% on a comparable basis.
The German company stressed that it received orders of 19.07 billion euros, higher than 15.10 billion euros a year ago, mainly due to the double-digit growth of all its industrial activities.
Adjusted EBITDA stood at 2.27 billion euros.
The figures were lower than analysts’ estimates at 2.45 billion euros, although revenues were higher than estimates at 16.82 billion euros.
Analysts forecast that orders in the fourth quarter would reach 17.56 billion euros.
Siemens announced that it will propose the increase of the dividend to 4 euros from 3.50 euros a year ago, reflecting its strong performance in the year 2021.
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
