Siemens posts record profits

BERLIN, Nov 14 (AFP): German industrial giant Siemens on Thursday posted a record net profit in the last fiscal year, but warned that global tariff conflicts could weigh on business in the coming 12 months.

Siemens netted nine billion euros ($9.5 billion) in cash between October 2023 and September 2024, a five percent increase on the previous year, the group said.

Across the board, revenues grew moderately to 75.9 billion euros from 74.9 billion euros in the previous year, when adjusted for changes in the group's activities. Orders declined to 84.1 billion euros from 89.4 billion euros the previous year, Siemens said.