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What was Siemens' revenue growth in 2023 compared to 2022? And what were the main drivers?
Siemens reported revenue of €77.8 billion in fiscal year 2023, which represents a 9.5% growth compared to €71.0 billion in 2022. This growth was primarily driven by:
Sources: Siemens Annual Report 2023, p.14-16 | Q4 2023 Earnings Report
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What was Siemens' revenue growth in 2023 compared to 2022? And what were the main drivers?
Siemens reported revenue of €77.8 billion in fiscal year 2023, which represents a 9.5% growth compared to €71.0 billion in 2022. This growth was primarily driven by:
The company's industrial businesses demonstrated strong momentum, with digital businesses showing particularly high organic growth.
How does their profit margin compare to competitors like Schneider Electric?
In fiscal year 2023, Siemens reported an adjusted EBITA margin of 14.2% compared to Schneider Electric's adjusted EBITA margin of 17.9% for the same period. Here's how they compare with other key competitors:
| Company | Adj. EBITA Margin | Net Profit Margin |
|---|---|---|
| Siemens | 14.2% | 9.1% |
| Schneider Electric | 17.9% | 12.3% |
| ABB | 16.5% | 10.8% |
Schneider Electric maintains a higher profitability profile in both adjusted EBITA and net profit margins. This is partly due to Schneider's stronger position in energy management solutions and a higher proportion of recurring software revenue.
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