Siemens AG announced on Thursday that its revenue in the fourth quarter of the fiscal year 2022 saw an annual rise of 18% to come in at €20.6 billion.

The company registered a net income of €2.9 billion, with the company's diluted earnings per share (EPS) standing at €3.39 per share. Fourth-quarter orders surged 14% compared to the corresponding time frame the year before, reaching €21.8 billion.

"Strong demand continues for our hardware and software offerings, including higher-than-expected growth for our digital business revenue. Our people made an incredible contribution in an extremely challenging year," Siemens AG CEO Roland Busch said following the release of the financial report.