Siemens Portugal turnover grows 30% in 2023

Siemens Portugal enjoyed a turnover of almost €600 million in Portugal, up 30% on 2022 according to the German company’s CEO, Fernando Silva.

Of this amount, Siemens SA was responsible for €382 million. The group has companies in the areas of mobility, health, and logistics, as well as its core business of intelligent infrastructure for buildings, decentralised energy systems, automation and digitalisation in the process and manufacturing industries, and on smart mobility solutions for rail and road transport.
Next year the company will celebrate 120 years in Portugal with an expectation that it will bring in €700 million (of which €500 million will come from Siemens SA) with projected growth of 10% for 2025.
In an interview with business daily Negócios, Fernando Silva recognised that “inflation had a role” in growth but did not explain this 30% increase.
He said I was down to market share growth in the national market on the one hand, and an increase in exports from Portugal on the other, exporting over 50% of Siemens output from Portugal to over 80 countries all over the world.
The country has also been attracting more skills and services centres to Portugal. Its order books are “quite strong” both in terms of projects developed in Portugal for the sectors in which the company operates — essentially industry, infrastructures, energy, health and mobility, but also regarding “commitments to projects at an international level” from the company’s headquarters and other regions.
Exports from Siemens Portugal were worth €300 million (of which Siemens SA was responsible for €243 million). In other words half of business turnover corresponded to overseas sales. (Hardware, software and services)