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Siemens Group achieves record profits

Siemens Group achieves record profits

The global backlog of orders at the end of fiscal year 2023 on September 30 reached €111 billion. © Dennis –

Siemens Group, which also has a significant presence in Austria, ended the last financial year with after-tax profits of 8.5 billion euros. This is almost double the value of the previous year. Siemens Energy’s investment of approximately €670 million contributed to this result. “Fiscal year 2023 was a year filled with many records,” CEO Roland Bosch said Thursday. “Our strategy is paying off in the long term.”

77.8 billion in sales

Group sales rose by 11% to €77.8 billion, and inbound orders rose by 7% to €92.3 billion – the Mobility division in particular leading the development with large orders. The backlog of orders at the end of fiscal year 2023 on September 30 amounted to 111 billion euros. Siemens is also confident about the coming financial year and expects profitable growth in its industrial business. Sales are expected to rise moderately by between four and eight percent. The only thing noticed here is that customers are reducing inventory in some areas. China in particular has been weak recently in terms of sales revenue and orders. The number of employees in the group worldwide has increased by approximately 9,000 to 320,000 employees. Dividends are expected to increase by 45 cents to €4.70. The Siemens Group employs 9,000 people in Austria.

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