- Siemens AG (OTC:SIEGY) reported first-quarter FY22 revenue growth of 17% year-on-year to €16.5 billion. Orders rose 52% Y/Y to €24.2 billion.
- Orders increased 42%, and revenue rose 9% on a comparable basis.
- Profit Industrial Business increased 12% Y/Y, to €2.5 billion, and the corresponding profit margin came in at 15.7% (Q1 2021: 16.5%).
- The basic EPS was €2.05, and EPS before purchase price allocation accounting was €2.24.
- Siemens generated €1.1 billion in free cash flow.
- Dividend: Siemens proposes to increase the dividend from €3.50 a year earlier to €4.00 per share.
- Outlook: For FY22, Siemens sees mid-single-digit comparable revenue growth, net of currency translation and portfolio effects, and a book-to-bill ratio above 1.
- Siemens sees basic EPS from net income before purchase price allocation accounting of €8.70 - €9.10.
- Asset Sale: Siemens agreed to sell the post and parcel business of Siemens Logistics to Körber AG.
- Additionally, Siemens will sell its stake in the joint venture Valeo Siemens eAutomotive to Valeo.
- Siemens announced the sale of its road traffic unit Yunex Traffic to Atlantia in January.
- Price Action: SIEGY shares closed higher by 1.21% at $78.93 on Wednesday.
