Siemens Reports Record Q4 FY23 Revenue, Expects Slower Growth in 2024

Company proposes dividend increase, anticipates 4% to 8% revenue growth for FY24.

Siemens AG reported Q4 FY23 revenue growth of 4% Y/Y (+10% Y/Y on a comparable basis) to €21.4 billion, beating the consensus.
Orders remained flat Y/Y (+6% Y/Y on a comparable basis) to €21.8 billion, led by higher volume from large orders in Mobility and growth in Siemens Healthineers and Smart Infrastructure.
Siemens proposed to raise the dividend per share to €4.70 from €4.25 a year ago.
Siemens expects guidance of comparable revenue growth (net of currency translation and portfolio effects) of 4% to 8% and a book-to-bill ratio above 1 for FY24.
Siemens projects EPS pre-PPA excluding Siemens Energy Investment of €10.40 to €11.00 in FY24.