Siemens reports Q3 profit down 7%, raises dividend, forecasts lower sales growth due to geopolitical risks.

Siemens reported a 7% drop in industrial profit to €3.12 billion in Q3 2022 but saw revenue rise to €20.81 billion, slightly above forecasts. The company cited geopolitical risks and weak consumer demand for lowering its next financial year's sales growth target to 3-7%, down from 4-8%. Despite challenges, Siemens plans to raise its dividend and has a record order backlog of €113 billion.

November 14, 2024
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