Rock in the Surf Siemens Holds its Ground in Uncertain Times

Source: dpa | Translated by AI 1 min Reading Time

Siemens is doing well in business despite all global economic upheavals, as is now being reported.

The Siemens Group, unlike many other players, currently has no complaints. Business is going well, and even the problem area of automation seems to be recovering...(Image: Siemens)
The Siemens Group, unlike many other players, currently has no complaints. Business is going well, and even the problem area of automation seems to be recovering...
(Image: Siemens)

The Siemens Group increased revenue and earnings in the second quarter, it is reported. Looking at the second quarter of the fiscal year from January to March, a profit of 2.4 billion euros (approx. 27 billion USD) remains. This is even about 11 percent more than a year ago. And even the problem child Automation, for which Siemens recently announced the cutting of thousands of jobs, seems to be leaving the demand problems increasingly behind. The reason is increased demand from China, as high inventories are now being reduced there. However, automation in Germany is proceeding rather sluggishly.

Those who Position Themselves Globally Have a Firmer Seat in the Saddle

"Our global presence makes us resilient," commented Siemens CEO Roland Busch. Consequently, the outlook for the fiscal year has been confirmed, which tends to expect further increasing profits. Naturally, revenue is also expected to grow. In the past quarter, it already rose by seven percent (to 19.8 billion euros, approx. 21.5 billion USD). The Smart Infrastructure division boomed during the period under review. Its earnings increased by almost two-thirds—although partly due to a gain from the sale of a smaller sub-division. However, this more than compensated for the decline in Digital Industries, which includes the problematic automation business, as Siemens emphasizes.

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