Siemens: investors cheer quarterly results
(CercleFinance.com) - German industrial conglomerate Siemens said that it has had one of the best quarters for volume in its history, and expects favourable market conditions to continue in the coming months.
The group's revenue rose by 2% to 22.6 billion euros in its fourth quarter, up 2%, while profit industrial business — covering Siemens' numerous units — rose slightly to 2.14 billion euros in the quarter to September, from 2.13 billion euros.
"We again delivered what we promised and fully reached our guidance which we raised at mid-year," said Joe Kaeser, Siemens' president and chief executive officer.
In its statement, Siemens said it expects a continued favorable market environment, particularly for short-cycle businesses, with limited risks related to geopolitical uncertainties.
The company expects moderate growth in revenue for the new fiscal year 2018-2019, which began in October.
Order backlog remained at record levels, at 132 billion euros, the group said.
Siemens shares are currently up 1.6% at 104.5 euros, making it the third top gainer amongst German blue chips.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group's revenue rose by 2% to 22.6 billion euros in its fourth quarter, up 2%, while profit industrial business — covering Siemens' numerous units — rose slightly to 2.14 billion euros in the quarter to September, from 2.13 billion euros.
"We again delivered what we promised and fully reached our guidance which we raised at mid-year," said Joe Kaeser, Siemens' president and chief executive officer.
In its statement, Siemens said it expects a continued favorable market environment, particularly for short-cycle businesses, with limited risks related to geopolitical uncertainties.
The company expects moderate growth in revenue for the new fiscal year 2018-2019, which began in October.
Order backlog remained at record levels, at 132 billion euros, the group said.
Siemens shares are currently up 1.6% at 104.5 euros, making it the third top gainer amongst German blue chips.
Copyright (c) 2018 CercleFinance.com. All rights reserved.