A Siemens logo in Germany. The industrial giant says that a newly commissioned green hydrogen plant in the country will use wind and solar power from the Wunsiedel Energy Park.
Daniel Karmann | Picture Alliance | Getty Images
Siemens on Thursday posted a 10% rise in revenue growth for its fiscal fourth quarter to a record high of 21.4 billion euros ($23.2 billion), beating forecasts, but expects a slowdown in 2024.
The German industrial conglomerate projects sales growth of 4-8% over the next 12 months, down from the 11% increase recorded for the 2023 fiscal year that ended in September, due primarily to a muted outlook for its industrial automation division.
Siemens proposed to increase its dividend from 4.25 euros per share a year earlier to 4.70 euros per share.
“Fiscal 2023 was a year of multiple records: In our Industrial Business, profit and profit margin reached their highest levels ever, and we nearly doubled our net income to a historic high,” Siemens President and CEO Roland Busch said in a statement.
“Our strategy is paying off, and we continue to accelerate the digital and sustainability transformations of our customers.”
This is a breaking news story and will be updated shortly.
