Siemens Reports Continued Profitable Growth and Excellent Free Cash Flow

Siemens has released its Q3 2023 report. At Siemens, orders rose 15%, and revenue grew 10% on a comparable basis, excluding currency translation and portfolio effects in Q3 of 2023.

“We again achieved profitable growth and showed our competitive strength across all our businesses,” said Roland Busch, president and CEO of Siemens AG. “We have seen normalization of demand, particularly in China and in short-cycle business. I’m very pleased that our financial performance was again strong and resilient. We continue to execute our strategy of creating high-value growth and accelerating our customers’ digital transformation and sustainability journeys.”

“Again in the third quarter our excellent Free cash flow reflected our businesses’ strong performance. In addition, an upgrade of our credit rating by Moody’s underlines our financial strength. We are ideally positioned to continue creating value for our shareholders, customers and employees,” said Ralf P. Thomas, CFO of Siemens AG.

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