Chief Executive Officer (CEO) of German industrial conglomerate Siemens, Roland Busch attends the virtual annual shareholder meeting in Munich, Germany, February 10, 2022.
Sven Hoppe/Pool via REUTERS/File Photo Acquire Licensing RightsSummaryCompanies Company expects sales to grow 4-8% in fiscal 2024Posts record industrial sales, profit in Q4Frankfurt-listed shares +3.6%FRANKFURT, Nov 16 (Reuters) - Siemens (SIEGn.DE) on Thursday gave a more cautious sales outlook for 2024, citing continuing destocking by Chinese customers, after the maker of products from trains to industrial software reported record industrial profit.
That beat the 20.99 billion euros forecast in a company-gathered poll of analysts.
Industrial profit too grew 7% to a record 3.4 billion euros, above the 3.34 billion euros forecast.
The company has also been working through its massive order book, which stood at 111 billion euros at the end of September, up from 110 billion euros at the end of June.
Persons:
Roland Busch, Sven Hoppe, Ralf Thomas, Christoph Steitz, Alexander Huebner, John Revill, Linda Pasquini, Christopher Cushing, Jan Harvey
Organizations:
Siemens, Companies, ABB, Frankfurt, Industrial Business, Thomson
Locations:
Munich, Germany, Frankfurt, FRANKFURT, Swiss, China