Siemens closed out FY21 with results that were above our expectations. Compared to consensus, revenue was above expectations, whereas profitability was just slightly below them. Order growth, in particular, remained very strong. Backed by such figures the group generated robust FCF and decent net income. Supported by the former, the group proposed a dividend of €4.0, an increase of €0.5 over FY20. The group also put forward its outlook for FY22, which is an overall positive in our view.
11 Nov 2021
Excellent 2021 sets the stage for 2022
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Excellent 2021 sets the stage for 2022
Siemens Aktiengesellschaft (SIE:ETR) | 0 0 0.0%
- Published:
11 Nov 2021 -
Author:
Kulwinder Rajpal -
Pages:
3
Siemens closed out FY21 with results that were above our expectations. Compared to consensus, revenue was above expectations, whereas profitability was just slightly below them. Order growth, in particular, remained very strong. Backed by such figures the group generated robust FCF and decent net income. Supported by the former, the group proposed a dividend of €4.0, an increase of €0.5 over FY20. The group also put forward its outlook for FY22, which is an overall positive in our view.