FRANKFURT: German engineering giant Siemens said Thursday it expects to book a further increase in bottom-line earnings in 2014 after achieving its targets this year.
"Siemens met its previously adjusted targets for the fiscal year ended on September 30, 2013, thanks to a solid fourth quarter," the group said in a statement.
Siemens runs its business year from October to September.
"With a solid fourth quarter, we completed an eventful year in fiscal 2013."
"Now we're looking ahead and concentrating on measures aimed at improving our profitability," said chief executive Joe Kaeser.
Siemens expected its markets to remain "challenging" in fiscal 2014, Kaeser said.
"Assuming that revenues remain level year-over-year, the company expects basic earnings per share for fiscal 2014 to grow by at least 15 percent from 5.08 euros or $6.87 in fiscal 2013."
In the 12 months to September 2013, revenues slipped by 1.0 percent to 75.9 billion euros.
New orders, on the other hand, rose by 10 percent to 82.4 billion euros and net profit climbed to 4.4 billion euros from 4.3 billion euros a year earlier.
In the fourth quarter alone, orders and revenues were up 3.0 percent, but net profit fell by 11.6 percent.
Separately, Siemens said it planned to carry out a share buy-back of up to 4.0 billion euros within the next up to 24 months.
"We want to let our owners continually share in the company's success," said chief financial officer Ralf Thomas.
Investors cheered the news, with Siemens shares among the three biggest gainers on the Frankfurt stock exchange on Thursday, adding 2.93 percent in a stable to slightly softer market. (AFP)
