Siemens Reports Record 13.3 Billion Euro Annual Profit
Siemens achieved record annual core industrial profits of 13.3 billion euros driven by surging demand for AI data center infrastructure.
Siemens reported a record annual core industrial profit of 13.3 billion euros for the fiscal year ending September, marking a 13% increase. The growth resulted from the artificial intelligence boom, as technology companies including Microsoft and Meta invested heavily in data centers requiring electrical and cooling equipment.
Demand for smart infrastructure led to a 40% surge in fourth-quarter orders, reaching 8.67 billion euros. Simultaneously, the digital industries division saw orders rise 16% to 6.41 billion euros. CEO Roland Busch attributed these results to the company's Industrial AI strategy and a shift toward higher-margin software products.
Following these results, the company raised its mid-term targets. Siemens now aims for annual sales growth between 7% and 11% and earnings per share growth of at least 10%.
