Munich (dpa) - Siemens will present poor quarterly figures - CEO Joe Kaeser has already announced this. However, Kaeser said in May that the “significant deterioration in business performance” would also bottom out at the end of June.
The digitization business with customers from the mechanical, automotive and aircraft industries was worse. It will be exciting to see what result Siemens expects for the full year ending September - there is still no forecast.
Analysts expect Siemens sales to drop to EUR 12.75 billion and an operating profit of EUR 1.2 billion in the industrial business - again less than in the previous quarter. The bottom line is a small profit of a good 50 million euros, the experts estimate. They expect a loss for Siemens Energy.
But the ongoing restructuring of the group is largely viewed positively. With the spin-off from Siemens Energy, which has been running as an independent unit since April and is scheduled to go public in September, the industrial group can concentrate more on business areas with growth potential.
In Siemens' second business quarter, from January to the end of March, sales remained stable at 14.2 billion euros, while adjusted operating profit fell significantly to 1.6 billion euros. Siemens wants to save half a billion euros in the weakening business areas of digitalization and smart infrastructure by 2021.
The future Siemens boss Roland Busch expects the tailwind for Siemens soon again due to the trend towards digitalization. Siemens also offers great opportunities in the realignment of the manufacturing and supply chains and the return of production to high-wage countries, which can become more competitive in terms of price through more automation and digitalization.
The drive subsidiary Flender, with a turnover of two billion euros, will soon also go public on the stock exchange. Shareholders should make a decision at the general meeting in February 2021. The interest in the medical technology subsidiary Siemens Healthineers will decrease soon because Healthineers wants to take over the US company Varian for $ 16 billion and that wants to finance it through a capital increase in which Siemens does not participate.
So far, Siemens has expected sales to decline by up to five percent in the fiscal year ending in September. There is currently no forecast for the result.
© dpa-infocom, dpa: 200806-99-59393 / 2