Siemens delivered a solid profit in the third quarter of its fiscal year. The bottom line is that the Munich group earned 1.4 billion euros, according to its own statements, despite renewed charges from its participation in the troubled former energy division Siemens Energy. Just a year ago, Siemens had to report a loss of 1.5 billion euros as a result of the Energy share crash and the effects of Russia. Sales and incoming orders also developed strongly. Nevertheless, Siemens is somewhat more cautious in its forecast for its most important division.
“We have once again grown profitably and have demonstrated our competitive strength in all of our businesses,” said CEO Roland Busch. In addition to the solid profit, sales rose on a comparable basis by 10 percent to 18.9 billion euros, the order intake even by 15 percent to 24.2 billion. The latter was driven in particular by a number of large orders from the smallest division, Mobility.
In the largest division, Digital Industries (DI), however, incoming orders fell by more than a third. According to Siemens, there was an “accelerated decline” in the short-cycle business involving the automation of factories in particular. Although DI’s earnings figures for the third quarter were solid, Siemens slightly lowered the forecast for its most profitable division for the full fiscal year: Sales should no longer grow quite as quickly and the forecasts for the margin are also a touch more cautious.
This does not affect the prospects for the entire group. Siemens confirmed its forecast here.
