Siemens Q1/2023Siemens raises forecast
A good start to the new fiscal year has Siemens looking to the coming fiscal year with confidence: The Group is raising its forecast.
"With an impressive increase of 23%, Digital Industries' automation business once again stands out. Even compared to the competition. We have gained further market share," says Busch. According to Busch, the result of the industrial business amounted to 2.7 billion euros, which is "a record figure" for the first quarter. However, incoming orders in the automation business are falling behind the high level in Q1/2022. The increase in incoming orders in the software business was mainly due to larger orders in the product life cycle management software business. However, sales revenue in the software business fell due to the lower volume from larger orders in the electronic design automation business. Earnings in the software business fell due to lower sales revenue and higher expenses for cloud-based activities, including the effects of the switch to Software as a Service (SaaS).Both earnings and profitability increased in all automation businesses and were supported by higher capacity utilization as well as a more favorable business mix with improved component availability for high-margin products. The book-to-bill ratio for Digital Industries was 1.24. Digital Industries now expects to achieve like-for-like revenue growth of between 12% and 15% (previously 10% and 13%) in the 2023 financial year. The earnings margin is now expected to be between 20% and 22% (previously 19% and 22%).