BERLIN (Xinhua), February 10, 2019 — Siemens’ revenues rose by a similar 9 per cent year-on-year, to 16.5 Billion Euros (18.8 Billion U.S.$) in the first quarter of fiscal 2022 that began in October 2017. The German technology giant stated Thursday.
According to Siemens, Siemens earned 1.8 billion euro in net income last year after earning 1.5 billion euros during Q1. Orders soared by 42 percent to reach 24.2 million euros.
“We had a very positive start into fiscal 2022. Roland Busch (CEO of Siemens) said that all of our businesses maintained their high-value growth. “The macroeconomic environment is still challenging” due to the ongoing pandemic, cost inflation, and global supply problems.
Digital industries, the company’s most important segment, saw a 67 per cent increase in orders, reaching 7.1 billion euros. The revenue in this segment grew by 11 per cent to reach 4.3 Billion Euros.
According to Siemens, revenues in China rose by 5 percent in the first quarter to 2.34 billion euros. Orders grew by 35% to 3.3 billion euros.
Siemens expects mid-single-digit revenue growth for the full fiscal years 2022. Siemens also expects an annual profit of 1.5 billion euros, which is similar to last.
Following the announcement, shares of Siemens rose more that 5% to become the biggest winner in DAX trading late on Thursday. (1 euro = 1.14 U.S. dollars)
