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.
Siemens reports growth in order intake in the Portfolio Companies segment. This was led by the airport logistics business of Siemens Logistics, which recorded a higher volume of major orders compared to Q1/2022. Large Drive Applications made the strongest contribution to the broad increase in revenue. The sale of Siemens Logistics' mail and parcel handling business at the beginning of the fourth quarter of 2022 held back growth in order intake and revenue by portfolio effects of 16 and 18 percentage points respectively.Portfolio Companies recorded a gain of €140 million from the successful sale of the Commercial Vehicles business, which was completed in November 2022.