SIE Siemens AG

   By Ed Frankl 
 

Siemens AG said Thursday that fourth-quarter revenue and orders rose as it posted growth in its industrial businesses.

The German industrial company's net income was 1.17 billion euros ($1.34 billion), compared with EUR1.76 billion the previous year, although last year's figure included around EUR800 million from discontinued operations resulting mainly from the spinoff of Siemens Energy.

Net income in the 2021 fiscal year jumped to EUR6.16 billion from EUR4.03 billion, it said.

Revenue in the quarter rose 18% to EUR17.44 billion, rising 10% on a like-for-like basis, with a book-to-bill ratio of 1.09, the company said.

The Munich-based company said it had orders valued at EUR19.07 billion, up from EUR15.10 billion a year earlier, driven by double-digit growth in all industrial businesses.

Its closely watched adjusted earnings before interest, taxes, depreciation and amortization at its industrial businesses was EUR2.27 billion, it said.

The figure was below analysts' expectations of EUR2.45 billion, although revenue came in above views at EUR16.82 billion, according to estimates provided by the company. Analysts predicted fourth-quarter orders at EUR17.56 billion.

Siemens said it would propose to increase its dividend to EUR4.00 a year from EUR3.50 a year earlier, reflecting its strong performance in fiscal 2021.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

November 11, 2021 01:54 ET (06:54 GMT)

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