- Siemens Energy AG press release (OTCPK:SMEGF): Q4 Revenue of €8.52B (-7.2% Y/Y).
- Siemens Energy’s market momentum continued to be strong in the 2023 fiscal year. The order backlog of €112 billion reached another new record, while orders at Siemens Energy exceeded the already high prior-year level and rose by 33.8% on a comparable basis to €50.4 billion.
- Outlook for fiscal year 2024: Siemens Energy overall expects comparable revenue growth (excluding currency translation and portfolio effects) in fiscal year 2024 in a range of 3% to 7% (actual figure FY 2023: 7.3%) and a profit margin before special items of negative 2% to positive 1% (actual figure FY 2023: negative 8.9%). Furthermore, we expect a Net income of up to €1bn (actual figure FY 2023: Net loss of €4,588m) including impacts from disposals and the acceleration of the portfolio transformation. Free cash flow before taxes is expected to be around a negative €1.0 billion amount (actual figure FY 2023: €784 million).
- When it comes to revenue we are now much more positive on growth outlook for fiscal year 2026 for Grid Technology (2025 target stood at mid-single growth; new target low double digit growth) and Transformation of Industries (2025 target stood at mid-single growth; new target high-single digit growth) which is then also reflected in higher margin targets for those two business for fiscal year 2026 (compared to fiscal 2025).