Siemens beats forecasts
Siemens is growing strongly: The technology group exceeded expectations in the second quarter. Strong figures from the Infrastructure, Mobility, and Healthineers segments are driving revenue and profit – and the order situation is also encouraging. The full-year forecast has been confirmed.
The technology group significantly increased both revenue and profit in the second fiscal quarter (ending March). Revenue increased by six percent year-on-year to €19.8 billion on a comparable basis. Earnings from the Industrial Business rose by 29 percent to €3.2 billion. Basic earnings per share before purchase price allocation effects were €3.00. Analysts had previously expected revenue of only €19.2 billion and earnings per share of €2.52.
The order situation also improved significantly. Order intake increased by nine percent on a comparable basis to €21.6 billion in the second quarter. The train division and Siemens Healthineers, in particular, generated significantly more new business. The automation business, which had been weak for some time, is also showing signs of improvement thanks to higher demand from China. Siemens thus exceeded analysts' forecasts of €20.1 billion in order intake. The outlook for the full year was confirmed.
"We have once again completed a successful quarter, with significant growth in new orders, revenue, and net income. Our customers continue to trust our technologies, and our global presence makes us resilient," said Roland Busch, President and CEO of Siemens, commenting on the figures. "With our ONE Tech Company program, we are taking decisive action to scale our technologies. With the acquisition of Altair and the planned acquisition of Dotmatics, we can offer our customers new artificial intelligence offerings and open up new opportunities in growth areas such as life sciences."
Siemens shares have recently staged a strong recovery following the sharp correction following their record high in March. The stock is now trading just below its record high of €244.85. DER AKTIONÄR has renewed its buy rating on the stock in light of the correction. Investors are already significantly up. Let profits run.
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