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11 Nov 2021

Siemens Fourth Quarter Sales and Orders Exceed Forecasts

The Index Today

Siemens reported fourth quarter sales and orders to exceed forecasts as it is hopeful for global supply chain issues to die down and boost performance for the 2022 fiscal year.

The software manufacturer will reflected sales increase by 18% to 17.44 billion euros despite analysts forecast of only 16.82 billion euros. The company plans to capture new growth opportunities in major markets. Supply chain bottlenecks have been ravaging factory output in many nations especially for electronics components sectors.

Siemens adjusted profit declined by 14% to 2.27 billion euros whereas net income fell by 29% to 1.33 billion euros. However, if seen on an annual basis, Siemens net profit went up by a shocking 59% to 6.69 billion euros, giving it a larger market share of the industry.

Roland Busch, president and chief executive of Siemens said, “In a challenging environment we have won market share and clearly exceeded our net income guidance. This momentum will continue in fiscal 2022.” The company is considering an increase in its dividend from 3.50 euros to 4.00.

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