Earnings Release Q4 FY 2022: Outstanding performance in fiscal 2022 – Strong fourth quarter finish

Nov 17, 2022

Revenue for the fourth quarter climbed 18% year-over-year, to €20.6 billion, while orders increased 14% year-over-year, reaching €21.8 billion, for a book-to-bill ratio of 1.06
Revenue rose 12% and orders grew 7% on a comparable basis, excluding currency translation and portfolio effects
Profit Industrial Business climbed 38%, to €3.2 billion, with a profit margin of 16.2%, on profit increases in all industrial businesses
Net income more than doubled to €2.9 billion for the quarter due to the strong performance of the Industrial Business and benefiting from a gain on the sale of the mail and parcel-handling business of Siemens Logistics; corresponding basic earnings per share (EPS) rose to €3.39 and EPS before purchase price allocation accounting (EPS pre PPA) climbed to €3.59
Free cash flow from continuing and discontinued operations was €3.5 billion
In a strong operating performance for the full fiscal year 2022, orders rose 25%, to €89.0 billion and revenue increased 16%, to €72.0 billion, for a book-to-bill-ratio of 1.24; on a comparable basis, orders were up 17% and comparable revenue growth of 8.2% exceeded our guidance
Fiscal 2022 Profit Industrial Business grew 17% year-over-year to a record-high €10.3 billion; net income came in at €4.4 billion, corresponding basic EPS was €4.65, and EPS pre PPA was €5.47 thus fulfilling our guidance from Q3 FY 2022; both basic EPS and EPS pre PPA included burdens of €3.37 per share related to the non-cash impairment of our stake in Siemens Energy AG in Q3 FY 2022; Free cash flow from continuing and discontinued operations was €8.2 billion, at the record level of fiscal 2021
Siemens proposes to increase the dividend from €4.00 a year earlier to €4.25 per share

Outlook

Our outlook for fiscal 2023 is based on the assumptions that geopolitical tensions do not further escalate and challenges from COVID-19 and supply chain constraints continue to ease. Under these conditions, with our high order backlog, particularly in short-cycle businesses, we expect our industrial businesses to continue their profitable growth.
For the Siemens Group we expect comparable revenue growth, net of currency translation and portfolio effects, in the range of 6% to 9% and a book-to-bill ratio above 1.
Digital Industries expects for fiscal 2023 to achieve comparable revenue growth of 10% to 13%. The profit margin is expected to be 19% to 22%.
Smart Infrastructure expects for fiscal 2023 comparable revenue growth of 8% to 11%. The profit margin is expected to be 13% to 14%.
Mobility expects for fiscal 2023 comparable revenue growth of 6% to 9%. The profit margin is expected to be 8% to 10%.
We expect this profitable growth of our industrial businesses to drive an increase in basic EPS from net income before purchase price allocation accounting (EPS pre PPA) to a range of €8.70 to €9.20 in fiscal 2023.
This outlook excludes burdens from legal and regulatory matters and material impairments.

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About SIEMENS
Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers.