SIEGY - Siemens Q4 sales orders surpass expectations; sees supply chain woes easing

Siemens (OTCPK:SIEGY +3.2%) rallies after reporting strong gains in Q4 sales and orders, and saying shortages of components and jammed logistics networks should improve during FY 2022. Siemens says Q4 revenues rose 18% Y/Y to €17.4B ($20.17B), beating analyst consensus forecast of €16.8B, and orders surged 26% to €19.1B, surpassing expectations for €17.5B. Q4 adjusted EBITDA from its industrial business fell 14% Y/Y to €2.27B, slightly below €2.45B consensus. Q4 net income fell to €1.17B from €1.76B in the year-earlier quarter, although last year's result included ~€800M from discontinued operations resulting mainly from the Siemens Energy spinoff. For the full year, net profit rose 59% to 6.69B, beating forecasts and the company's own guidance of €6.1B-€6.4B. Siemens also said it will propose to raise its annual dividend to €4.00/share from €3.50 a year earlier, reflecting its strong performance in FY 2021.

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Siemens Q4 sales, orders surpass expectations; sees supply chain woes easing