In spite of deep red energy division: Siemens is well on the Corona-quarter

The business of Siemens shows in the Corona-crisis only slight declines. Sales of the Munich-based technology group, decreased in the three months from April to

In spite of deep red energy division: Siemens is well on the Corona-quarter

The business of Siemens shows in the Corona-crisis only slight declines. Sales of the Munich-based technology group, decreased in the three months from April to June by five per cent to 13.5 billion euros, the order intake decreased by seven percent to 14.4 billion, as Siemens announced on Thursday. Especially the train sector and Software for industrial automation based business. The adjusted operating profit (Ebita) in the industry business rose in the third quarter of fiscal year 2019/20 (end of September) by eight percent to 1.79 billion euros. Analysts had trust Siemens, on average, only 1.17 billion, and with a significantly stronger sales and Job interruptions are expected.

The difference explained at the end of chief Executive, Joe Kaeser: "in Spite of the still very serious, global pandemic, we keep the course successfully and were able to deliver in the third quarter, a strong operational Performance." The supply chains had remained largely intact. Contributed to the improved Ebita of work Short and to 70 percent lower trip costs. Siemens also benefited from a write-up of more than 200 million euros on the stake in the software company Bentley Systems.

the bottom line of the profit was halved, however, to 535 million (1.14 billion) Euro. The main reasons for the losses in the Spanish wind power, a subsidiary of Siemens, Gamesa, alongside higher taxes. You will as part of the energy technology division of Siemens Energy, on 28. September on the stock market. Siemens Energy is expected to have written a total of deep in the red, even if the Rest of the division "delivered a slightly positive" results. With the spin-off, Siemens is the majority of the shares, 55 percent get the Siemens shareholders to the Depot posted. The cost of the spin-off is likely to weigh on the profit for the year as a whole "is essential," said Siemens.

Updated Date: 06 August 2020, 05:20

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