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Siemens earnings report of the first quarter 2022. What are the results?

Siemens earnings report of the first quarter 2022. What are the results?
photo: Siemens press materials/Siemens earnings report of the first quarter 2022. What are the results?
14 / 02 / 2022

Siemens's rigorous execution of its portfolio optimization strategy generated in 2021 €1.5 billion in net income from the sale of Flender business, divestment of the stake in Bentley Systems, Inc. and ChargePoint Holdings, Inc., and revaluation of their stake in Thoughtworks Holding, Inc. They expect this strategy to continually support the growth even in 2022.

“We had a very successful start into fiscal 2022. All our businesses continued their high-value growth. We delivered strong results and increased our earnings per share before purchase price allocation by 20 percent. At the same time, we continue to sharpen our portfolio as a focused technology company. Our results impressively demonstrate that we are a leader in accelerating digitalization and sustainability,” Roland Busch, President and Chief Executive Officer of Siemens AG.

The First-quarter of 2022 brings a 52% order surge year-over-year, reaching €24.2 billion on double-digit increases in all industrial businesses, while revenue climbed 17% year-over-year, to €16.5 billion, for a book-to-bill ratio of 1.47. Orders rose 42% and revenue grew 9% on a comparable basis, excluding currency translation and portfolio effects, primarily the acquisition of Varian Medical Systems, Inc.

“Siemens continued its very strong financial performance across all key metrics in the first quarter of fiscal 2022. We took significant advantage of growth opportunities in many key markets while achieving excellent free cash flow of more than €1 billion all-ins,” Ralf P. Thomas, Chief Financial Officer of Siemens AG.

Profit Industrial Business increased 12% year-over-year, to €2.5 billion and the profit margin came in at 15.7%. The net income of the company rose 20% to €1.8 billion resulting in basic earnings per share (EPS) of €2.05. Free cash flow from continuing and discontinued operations stronger year-over-year at €1.1 billion.


Digital industries, smart infrastructure, and mobility have all comparable revenue growth expectations for 2022 of 5% to 8%, profit margins expectations however differ for each of them. Digital industries expect a profit margin somewhere from 19% to 21%, the smart infrastructure around 12% to 13%, and mobility expects its profit margins in 2022 to be about 10.0% to 10.5%.

Siemens points out however that this outlook does not include legal and regulatory matters.