Due to the business development of SGRE in the recent quarter and its adjusted guidance, we amended the
outlook for the fiscal year 2022 for the SGRE segment and, accordingly, for Siemens Energy. In addition,
management will reassess its prior expectations for Siemens Energy Group’s Adjusted EBITA margin before
special items for fiscal year 2023 of positive 6.5% to positive 8.5%.
Our assessment for Siemens Energy’s business environment remains widely unchanged and we confirm GP
segment’s outlook for fiscal year 2022. Global economy should continue to grow in fiscal year 2022 and we
expect global supply chain constraints to persist as well as COVID-19 to remain a factor of uncertainty. Therefore, a shortage of materials and components and/or a lack of freight capacity may continue to have an
impact on our business, especially as it pertains to the on-time execution of large projects. Nevertheless, we
are still confident that the measures we have taken as part of our transformation – especially at GP – will
lead to higher profitability at Siemens Energy in fiscal year 2022, although on a lower than expected level.
For Siemens Energy in fiscal year 2022, we now expect comparable revenue development (excluding currency translation and portfolio effects) to be in a range of negative 2% to positive 3% (previously negative
1% to positive 3%) and an Adjusted EBITA margin before special items between positive 2% and positive 4%
(previously between positive 3% and positive 5%). We still expect a sharp improvement of Net income and
Free cash flow pre tax to be in a range of a positive mid-triple-digit million €.
For the GP segment in fiscal year 2022, the outlook is unchanged. We target comparable revenue growth
to be in a range of positive 1% to positive 5% and Adjusted EBITA margin before special items to be between
positive 4.5% and positive 6.5%.
For the SGRE segment, we now expect in fiscal year 2022 a comparable decline of revenue between negative 2% and negative 9% (previously negative 2% and negative 7%). Adjusted EBITA margin before special
items now is expected to be in a range of negative 4% to positive 1% (previously positive 1% to positive 4%).
This guidance assumes no further major financial impacts from COVID-19 on our business activity and excludes charges related to legal and regulatory matters.