Siemens Q3 revenue up by 11% to €17.9 billion

Thursday, 11. August 2022 07:03

Siemens AG announced on Thursday that its revenue in the third quarter of the fiscal year 2022 saw an annual rise of 11% to come in at €17.9 billion.

The company declared a net loss of €1.5 billion due to a €2.7 billion impairment of stake in Siemens Energy. Meanwhile, the company's diluted earnings per share (EPS) stood at €2.06 per share. Third-quarter orders rose 7% year-on-year to €22 billion, despite a substantially smaller volume of large Mobility orders.

"Our continued top line momentum translated into a record, high-quality, and high-quantity order backlog of €99 billion. We again achieved outstanding Free cash flow of €2.3 billion, which further underscored our financial strength. In addition, we consistently and successfully implemented our portfolio optimization and sharply accelerated our share buyback program," said Ralf P. Thomas, Chief Financial Officer of Siemens AG.

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Author:
Baha Breaking News (BBN) / JG