Press release
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november 12, 2021 - Siemens
Earnings Release and Financial Results Q4 FY 2021: Stellar performance and successful start as a focused technology company
- Orders climbed 26% to €19.1 billion, driven by double-digit growth in all industrial businesses, and revenue rose 18%, to €17.4 billion, for a book-to-bill ratio of 1.09
- Orders increased 16% and revenue rose 10% on a comparable basis excluding currency translation and portfolio effects, primarily the acquisition of Varian Medical Systems, Inc. between the periods under review
- Adjusted EBITA Industrial Businesses was €2.3 billion, and Adjusted EBITA margin Industrial Businesses was 13.8%
- Net income was €1.3 billion and basic earnings per share (EPS) were €1.45; a year earlier, net income of €1.9 billion included €0.8 billion in income from discontinued operations resulting mainly from the spin-off of #siemens Energy
- Outstanding Free cash flow from continuing and discontinued operations, totaling €3.8 billion for the quarter
- For the full fiscal year 2021 orders were €71.4 billion and revenue was €62.3 billion, for a book-to-bill-ratio of 1.15; strong comparable revenue growth of 11.5% met our guidance which we raised most recently after the third quarter, while net income of €6.7 billion clearly exceeded expectations; Free cash flow for the full year reached a record high at €8.2 billion
- Siemens proposes to increase the dividend from €3.50 a year earlier to €4.00 per share, reflecting our stellar performance in fiscal 2021 and our great confidence in the future development of the company
OutlookOur outlook for fiscal 2022 is based on continuing healthy growth in global GDP, albeit with slowing momentum, and our expectation that the challenges to our businesses from COVID-19 and supply chain constraints will ease during fiscal 2022. With these conditions and given our very strong fiscal year 2021, we expect our industrial businesses to continue their profitable growth.For the #siemens group we expect 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%. We expect this profitable growth of our industrial businesses to drive an increase in basic EPS from net income before purchase price allocation accounting (EPS pre PPA) to a range of €8.70 to €9.10, up from €8.32 in fiscal 2021. We assume that rigorous execution of our portfolio optimization strategy will contribute similarly as in fiscal 2021, when we generated €1.5 billion in net income from the sale of our Flender business, divestment of our stakes in Bentley Systems, Inc. and ChargePoint Holdings, Inc., and revaluation of our stake in Thoughtworks Holding, Inc. This outlook excludes burdens from legal and regulatory matters.
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