Siemens releases Q4 and 2017 figures, year revenues rise to €83bn

Siemens has released its accounts for the 2017 fiscal year, revealing that the company achieved €83bn worth of revenues.

The figure represents a 4% rise from fiscal 2016, with Industrial Business profit rising by 8% over the course of the 12 months, hitting a figure of €9.5bn.

In its fourth quarter, however, the German conglomerate experienced a €2.2bn drop in its Industrial Business profits due to poor performance in its Power and Gas businesses.

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"Our global team delivered excellent results in fiscal 2017, surpassing even the historic success of last year," said Joe Kaeser, group President and Chief Executive Officer.

"Most businesses are stronger than ever and well equipped for the digital age. Nevertheless, we have to tackle structural issues in some individual businesses.

"There is a lot of work ahead of us in fiscal 2018. We will take advantage of our opportunities in the market and handle challenges carefully, responsibly and rigorously."

The company says that dividends are expected to rise to €3.70 per share, up by €0.10.