Munich (dpa) - The technology group Siemens is somewhat pessimistic given the global risks for the current financial year 2018/19.
Geopolitics and its impact on the global economy harmed an otherwise positive investment propensity, commented CEO Joe Kaeser given the presentation of the figures for the third fiscal quarter. Net income for the period declined slightly from 1.1 to 1.0 billion euros during this period.
Despite the gloomy environment, however, Siemens increased sales by 4 percent to around 21.3 billion euros, above all thanks to rising revenues from the two listed subsidiaries Siemens Gamesa and Siemens Healthineers, which had already presented their figures. In addition, Siemens continues to have full order books thanks to several major orders from Siemens Gamesa and the traction technology division.
Although the Munich basically confirmed their forecast for the current fiscal year. However, the Group now expects to reach the lower end of the range of 11 to 12 percent in the expected operating margin (Ebita) for the industrial business. Sales are expected to grow comparably moderately, Siemens said.
Siemens is in the midst of the biggest transformation in years. The people of Munich want to part with their energy business in the medium term and concentrate on digitization.