简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Siemens reported better-than-expected revenues for its third quarter on Thursday as a writedown at Siemens Energy pushed the engineering and technology group into the red for the first time in nearly 12 years.
The maker of industrial software and trains reported revenues rising 11% to 17.87 billion euros ($18.38 billion) – beating analyst forecasts for 17.47 billion euros in a company-gathered consensus.
But Siemens posted a shareholders net loss of 1.66 billion euros after taking a 2.8 billion euro non-cash charge for writing down the value of its stake in Siemens Energy.
The loss, Siemens first quarterly loss since the fourth quarter of 2010, meant Siemens had to cut its full year earnings per share guidance to 5.33 to 5.73 euros per share, from 8.70 to 9.10 euros previously.
Siemens owns a 35% stake in the turbine and wind power company, which has had a troubled two years since spinning off in 2020, with operating problems and losses at its wind turbine division Siemens Gamesa.
Chief Executive Roland Busch said demand was still strong, despite an environment affected by sanctions on Russia, high inflation and ongoing effects from the pandemic.
“We captured significant opportunities in a market environment with ongoing high demand,” he said in a statement.
“Our strong top line momentum continued, with a comparable order growth of 20% since the beginning of fiscal 2022.”
As well as the Siemens Energy charge, the companys figures were also hit by 442 million euro in costs related to its decision to quit Russia following the conflict in Ukraine.
During the three months to the end of June, Siemens said its orders rose to 22.07 billion euros, beating forecasts for 19.82 billion euros. The 7% increase followed a 32% increase in orders in the previous quarter.
Profit at its industrial business rose 27% to 2.88 billion – short of forecasts for 3.02 billion euros.
Siemens, whose products are used to equip factories, buildings and transport networks, is seen as a signifier for the broader industrial economy.
Demand in the European capital goods sector is holding up, Barclays said last week, looking back at the results of other companies in the sector such as ABB and Schneider Electric
Siemens said it has continued to avoid major disruptions caused by supply chain problems, especially around getting enough components, raw materials and logistics.
($1 = 0.9724 euros)
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
In the world of online trading, the promise of quick profits and seamless transactions often masks a darker reality. One of the most insidious tactics employed by fraudulent brokers is blocking withdrawals, that is a deliberate strategy designed to trap traders and investors into paying more money under false pretences.
Know the top online trading scams of 2025, from fake apps to pump-and-dump tricks. Simple tips to spot and avoid them, keeping your money safe in this easy guide.
A 43-year-old company auditor and subcontractor in Malaysia became the latest victim of an elaborate investment scam after losing RM1.29 million to a fraudulent scheme promoted via WhatsApp.
The U.S. March ISM Manufacturing PMI data shows that manufacturing has contracted for the first time, and investors should pay attention to future changes and impacts on the sector.