The technology group Siemens wants to increase sales and profit after a strong performance in the past fiscal year.

The DAX company is assuming a somewhat waning dynamic.

The bottlenecks in the supply chains and the problems in connection with the corona pandemic are expected to subside in the course of the 2021/22 financial year (as of the end of September).

On a comparable basis, sales are expected to increase in the mid-single-digit percentage range in 2021/22, Siemens announced on Thursday in Munich. This excludes currency effects as well as acquisitions and sales. In the previous year, the group had achieved 11.5 percent growth to 62.3 billion euros. Adjusted for certain purchase price effects, earnings per share are expected to increase from EUR 8.32 in the previous year to EUR 8.70 to EUR 9.10.

Siemens can fall back on a strong cushion of orders.

In the past financial year, for example, incoming orders increased from EUR 58 billion to EUR 71.4 billion, which corresponds to a comparable growth of a good fifth.

Siemens performed better than expected overall, after the company had previously raised its forecast several times.

Profit after tax jumped by almost 60 percent to 6.7 billion euros.

The company therefore wants to pay its shareholders a higher dividend of EUR 4.00, compared to EUR 3.50 in the previous year.

Final quarter profit declines

Siemens benefited from the economic recovery and sustained growth, particularly in its key markets such as the automotive industry, mechanical engineering, the electronics industry and most of the infrastructure-related sectors.

"In a challenging environment, we gained market share and significantly exceeded our earnings forecast," said CEO Roland Busch, commenting on the figures.

"We will continue with this momentum in fiscal year 2022."

In the final quarter, Siemens was able to increase sales and incoming orders even more than analysts expected.

In contrast, profit after tax fell.

This was also due to a special profit that Siemens achieved the year before from the spin-off of its energy business Siemens Energy.