Q3/2023Siemens reports strong order intake
Solid is how the results for the 3rd quarter can be described. Siemens was able to increase sales by 10 % and incoming orders were 15 % up on the same period last year at 24.2 billion euros. However, the forecast has not been raised.
Smart Infrastructure is at a similar level to the same period of the previous year. The order growth in the Electrification business is also attributable to several major orders from data centers and customers in the areas of battery production and power distribution. Incoming orders amounted to EUR 5.4 billion (Q3/2022: EUR 5.5 billion). The 15% like-for-like sales growth from EUR 4.4 billion in Q3/2022 to EUR 4.9 billion was supported by all businesses, above all Electrification and Electrical Products. These two divisions were also responsible for the higher earnings and increased profitability: earnings rose by 37% to EUR 769 million. The profit margin reached 15.6% compared to 12.9% in the same quarter of the previous year.