Increased sales in Asia have boosted industrial equipment maker Siemens’ fourth-quarter net profit to €1.23bn.
The figure represents an increase from a net loss of €396m from the same period a year ago.
Siemens’ revenues jumped 5pc to €20.35bn, the result of additional sales in Asia.
Sales rose across all regions, the company said, particularly in emerging markets. New orders decreased by 2pc to €21.1bn from the same period a year ago, however, and Siemens forecast moderate sales growth.
“With a strong fourth quarter in a turbulent economic environment, we ended fiscal 2011 with record operating results,” said Peter Löscher, president and CEO of Siemens AG.
“Siemens has a strong portfolio and stands for stability and confidence in troubled times. We are well positioned for moderate revenue growth in fiscal 2012 and surpassing the €100bn revenue threshold in the medium term.”
Siemens’ sectors delivered total sectors profit of €2.16bn, including €231m in impairment charges in the solar business.