Fiscal year 2023: Profitability and cash flow exceeded expectations expectations

Sales increase to €9.23 billion in fiscal year 2023 (2022: €9.07 billion)
Adjusted EBIT margin came in higher than the company’s own guidance at 3.7 percent (2022: 2.5 percent)
Free cash flow above the company’s expectations at €84.9 million (2022: €123.2 million)
Growth in electrification sales of around 21 percent to €1.3 billion (2022: €1.1 billion)
Order intake of more than €12 billion, of which around 70 percent in the electrification business
Order backlog as of December 31, 2023 stood at around €58 billion, with more than half electrification-related
First dividend distribution planned
Guidance for 2024: sales forecast between €8.3 billion and €8.8 billion, further improvement of adjusted EBIT margin between 4.5 percent and 5.0 percent, negative free cash flow of around €350 million expected