Siemens Q1 Profit Rises - Quick Facts

Germany's Siemens AG (SIEGY.PK,SMAWF) reported that its first quarter net income attributable to shareholders rose to 1.64 billion euros or 2.02 euros per share from 1.38 billion euros or 1.70 euros per share in the same quarter last year.

Revenue for the first quarter grew to 16.50 billion euros from 14.07 billion euros in the previous year.

The company noted its virtual annual shareholders' meeting will decide on dividend proposal of 4.00 euros per share for fiscal 2021 compared to 3.50 euros per share paid in 2020.

Siemens also announced that it agreed to sell the post and parcel business of Siemens Logistics to Körber AG. In addition, Siemens' stake in the joint venture Valeo Siemens eAutomotive will be sold to Valeo. The sale of Siemens' road traffic unit Yunex Traffic to Atlantia was already announced in January.

Siemens said its outlook for fiscal 2022 remains unchanged. It expects industrial businesses to continue their profitable growth.

For the Siemens group, the company expects mid-single-digit comparable revenue growth, net of currency translation and portfolio effects, and a book-to-bill ratio above 1.

Digital Industries expects for fiscal 2022 to achieve comparable revenue growth of 5% to 8% and a profit margin of 19% to 21%, including known headwinds of up to two percentage points associated with the strategic transition to software as a service (SaaS) in parts of its large software business.

Smart Infrastructure expects for fiscal 2022 comparable revenue growth of 5% to 8%. The profit margin is expected to be 12% to 13%.

Mobility expects for fiscal 2022 comparable revenue growth of 5% to 8%. The profit margin is expected to be 10.0% to 10.5%.

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