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.
Incoming orders in the Smart Infrastructure division increased in all businesses. In particular, strong growth in the Electrification business due to a number of major orders, including from the semiconductor industry, contributed to this growth. Sales revenue also grew in all businesses, with the strongest contributions coming from the Electrical Products and Electrification businesses with continued increases in data centers. Higher volumes and capacity utilization are also contributing to increased earnings and growing profitability, as are positive currency effects and cost savings from the implementation to date of the ongoing program to increase competitiveness, according to Siemens. Smart Infrastructure now expects revenue growth on a comparable basis of between 9% and 12% (previously 8% and 11%) and an earnings margin in the range of 13.5% to 14.5% (previously 13% to 14%) in fiscal year 2023.