© Siemens

Siemens Financial Services: High earnings contribution from debt financing business. This was mainly due to a very strong decline in expenses for loan loss provisions compared to Q4 FY 2020, when results were significantly impacted by COVID-19 related effects. Siemens was also able to increase its total assets compared to the end of the 2020 financial year. This is partly due to growth in the debt financing business, including positive currency translation effects.