Siemens Logs Record Year

Siemens delivered a record year despite net profit falling to €9.5 billion, down around €900 million, after the previous year’s earnings included an exceptional gain from the sale of Innomotics. Industrial business profit rose 13% to a record level, while orders reached €108 billion and revenue climbed to €83.4 billion from €78.9 billion. Growth was led by the Digital Industries and Smart Infrastructure businesses. The company expects further growth in the new financial year, driven in part by opportunities in artificial intelligence. It also raised its medium-term targets and increased the dividend to €5.50 per share.

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