Wednesday, May 4, 2016

Large orders impart thrust: Siemens surprised – n-tv.de NEWS


 Economy

 


 Wednesday, May 04, 2016

 
 
 


 
 Siemens reports for the first quarter a bigger profit than expected. The technology giant benefited from large orders from Egypt and Britain. But the Munich move faster with its austerity program.

 


 
  Charts
 
 

Thanks to good business with wind power and energy technology and faster savings success has surprisingly surged up the technology giant Siemens. The result of the industrial business rose in the second quarter to just over 2.1 billion euros, or 28 percent more than a year ago. Analysts had here only predicted 1.91 billion euros in the section.

CEO Joe Kaeser spoke of a convincing performance and confirmed the objectives for the financial year 2015/2016. In terms of sales, the noticeable trend in previous quarters, am continuing. In the past three months, revenues increased by 5 percent to nearly 19 billion euros

New orders -. And therefore the future revenue – benefited the DAX heavyweight especially of large orders from Egypt and Britain. They are intended to provide thrust in the second half of the financial year and tide over the expected economic downturn.

In the top-selling division energy (power and gas) in the second quarter new orders were worth 3.1 billion euros for gas and steam power plants including services in Egypt. Orders here nearly doubled, while sales climbed due to the project start-up in Egypt by 27 percent

However, after two Siemens also the end or the easing of sanctions against Iran. The Munich were old, disused jobs resume, which EUR 130 million contributed to the division’s profit. Total Power and Gas increased its earnings by 40 percent to 535 million euros. For redundancy costs fell to 33 million

euros.

The wind power division posted a profit of 137 million euros, following a loss of 44 million a year earlier. The order intake rose by a good half to 2.14 billion euros -. Only a major order for an offshore wind farm in the UK contributed here 1.2 billion euros at

Kaeser reiterated guidance that its profit fiscal year 2015/16 after tax should amount to 5.6 billion euros. In the second quarter were € 1.48 billion bottom line. Compared to last year this is significantly less, however, were in the 3.9 billion euros a year earlier included 3.0 billion in extraordinary income from sales. Revenues should set currency adjusted moderately for the year.

More about
 
 
 

The market environment of high-yield short-cycle businesses will possibly not significantly revive in the second half, Kaeser noted. Siemens assume that the macroeconomic situation in fiscal 2016 is expected to deteriorate further. “Despite continuing challenges in the market environment, we will continue our profitable growth consistently,” Kaeser said.

In addition, the Group is faster in his austerity program ahead. Overall, the costs are to be reduced by one billion euros. Whereas previously planned 800 to 900 million euros for this fiscal year, Siemens increases now this savings target to 850 to 950 million euros.

  Source: n-tv.de
 


  themes
 
  LikeTweet

No comments:

Post a Comment