Siemens posts sales and orders beat during fourth quarter

By John Revill

ZURICH, Nov 11 (Reuters) - Siemens SIEGn.DE reported better-than-expected sales and orders during its fourth quarter on Thursday as the engineering and technology company tackled ongoing supply chain bottlenecks which have been hindering the post-pandemic revival.

The maker of factory software and trains said its sales rose 18% to 17.44 billion euros ($20.17 billion)in the three months to the end of Sept., beating the 16.82 billion euros forecast by analysts.

Orders rose 26% to 19.07 billion euros ahead of expectations for 17.56 billion euros, the German company said.

The Munich company said it was seeing growth opportunities in many key markets despite "ongoing supply chain risks associated primarily with electronics components and raw materials," although it had reduced the impact of these problems during the quarter. ($1 = 0.8648 euros)
Reporting by John Revill, editing by Kirsti Knolle

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