The Strategist

Siemens net profit falls by 23% in first half of financial year

05/12/2022 - 09:23

Siemens AG reported a 23 percent drop in net profit for the first half of fiscal year 2021-2022, which ended on March 31, to €3.01 billion, according to the company’s statement.

Theen Moy
Theen Moy
The diluted earnings per share for the reporting period were €3.29, down from €4.49 in the previous financial year's first half. Year on year, revenue increased by 17% to €33.537 billion.

Net profit for the second quarter fell by nearly half year on year to €1.213 billion. Diluted earnings per share were €1.27, down from €2.79 the previous year. Quarterly sales increased by 16% at €17.04 billion. The amount of orders received increased by 32% to €20.978 billion.

The firm estimates basic earnings per share (EPS before PPA) of €8.7-9.1 for the current fiscal year, up from €8.32 in the previous fiscal year, assuming that COVID-19 and supply chain restrictions do not increase in the balance of fiscal 2022.