Siemens closed the last financial year with a record profit. After taxes, the group earned 8.5 billion euros, as it announced on Thursday in Munich. That is almost double the previous year’s value, which, however, also suffered from the consequences of the Ukraine war and a write-down on the share package in the former subsidiary Siemens Energy. There were no such setbacks for Siemens in the past financial year. On the contrary: the interim recovery of the Energy share resulted in a strong book profit in the second quarter, which contributed to the current record.

“The 2023 financial year was a year with numerous records,” said CEO Roland Busch. In the industrial business, the highest results and profitability have ever been achieved. “Our strategy is paying off in the long term.”

More employees worldwide

Sales and incoming orders also increased. On a comparable basis, sales increased by 11 percent to 77.8 billion euros, and order intake increased by 7 percent to 92.3 billion euros. The order backlog at the end of the financial year on September 30th was 111 billion euros.

Siemens is also confident for the coming financial year and expects profitable growth in its industrial business. Earnings per share are also expected to be 10.40 to 11.00 euros, higher than in the past financial year, but without taking the Energy investment into account. Sales are expected to increase moderately by 4 to 8 percent.

The number of employees in the group worldwide rose by around 9,000 to 320,000, and in Germany from 86,000 to 87,000.