Forecast raisedSiemens earns significantly more
In the past second quarter of fiscal year 2023, Siemens almost tripled its profit compared to the same period of the previous year.
9% growth in incoming orders was recorded in Smart Infrastructure, bringing the total to EUR 5.5 billion. The increase is mainly attributable to strong growth in the Electrivication business due to a number of major orders from data centers, the semiconductor industry and customers in the electricity distribution sector. On a comparable basis, sales grew by 21% to EUR 4.9 billion. The Electrical Products and Electrification businesses were the main contributors to the double-digit sales growth. Earnings rose by 75% to 779 million euros. At 15.9%, the profit margin increased compared to the same quarter of the previous year (11.1%). Both earnings and profitability reached their highest ever levels in a quarter.
The fact that the quarterly result and profitability reached their highest level ever is due to improvements in all businesses. According to the Group, this includes higher sales revenue, increased capacity utilization, a more favourable business mix and cost savings from the implementation of the ongoing program to increase competitiveness.