Tuesday, January 31, 2017

The Siemens group raises full-year forecast – FAZ – Frankfurter Allgemeine Zeitung

In the upward trend: the electric company, Siemens, here in the company headquarters in Munich

in several quarters from Siemens group observed upward trend in sales and profitability has stabilised. The technology group has, thanks to a strong increase in profit after tax to 25 percent to 1.94 billion euros at the start of the new fiscal year 2016/2017 (30. September), his first, in November, formulated forecast revised upwards.

Rüdiger Köhnauthor: Rüdiger Köhn, Economics correspondent, based in Munich, Germany.

Siemens said on Tuesday evening after the Board meeting and prior to this Wednesday’s annual General meeting that the return on sales in the industrial business in full-year 11 to 12 percent. In the period 2015/2016, it increased from 10.1 to 10.8 percent. The last Chairman of the Board Joe Kaeser, had a margin of 10.5 to 11.5 percent. Accordingly, the earnings per share will reach 7.20 to 7.70 Euro instead of the previously expected to 6.80 to 7.20 euros. Last year, the comparable value was reached to 6.74 euros. Is to be attributed the profit jump to good, efficient and smoothly settled industrial businesses, a margin of 13 (previous year: 10.4) achieved in the first quarter, even a percentage.

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correction to the above comes all the more surprising, because the economic and political conditions in the world in the past months, more likely to have exacerbated, and views uncertain. Siemens itself has noted that because of the increasingly complex geopolitical environment, “against the wind for economic growth and the investment climate in our markets.” Therefore, the company expects only a low growth of sales, adjusted for currency translation and portfolio effects. In the first three months of 2016/2017, the turnover rose in nominal terms by 1% and adjusted for 3 percent to 19.1 billion euros. The order intake decreased by 14 percent, as there was in the previous year, a number of large orders.

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For the full year was attributed to Siemens, but with contracts, which are greater than the revenue. Like a year ago, Siemens has been so unusually early an optimistic Outlook. The Confidence must be high. Because of the year press conference in November, Kaeser said that his then-forecast leaves little room for error.


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