Siemens, one of Europe's largest manufacturing companies, reported a record post-tax profit of €9 billion ($9.5 billion) for the past financial year on Thursday. The result was partly driven by a €500 million gain from transferring shares in its former subsidiary Siemens Energy to its pension fund.

The industrial conglomerate reported a higher net profit for the fourth quarter of its fiscal year, beating market views, after it benefited from high demand for electrical infrastructure driven by data centers.