Siemens Lifts Dividend Despite Fall in Quarterly Profit
November 16 2023 - 1:49AM
Dow Jones News
By Giulia Petroni
Siemens reported a fall in fourth-quarter profit while revenue
rose, and lifted its dividend for the year on higher cash flow.
The German industrial company on Thursday reported quarterly net
profit of 1.72 billion euros ($1.87 billion) from EUR2.70 billion
in the year-earlier period.
Revenue grew 4% to EUR21.39 billion, while orders came in
broadly flat on year at EUR21.80 billion. On a comparable basis,
revenue and orders increased 10% and 6% on year, respectively.
Siemens said it exceeded EUR10 billion in free cash flow in the
year and that it will propose a dividend of EUR4.70 a share from
EUR4.25 a share in 2022.
The company expects revenue growth of 4% to 8% on a comparable
basis and earnings per share before purchase price allocation
accounting of between EUR10.40 and EUR11, excluding the effects of
its investment in Siemens Energy.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 16, 2023 01:34 ET (06:34 GMT)
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