It further increased its quarterly profit and, accordingly, raised its annual profit forecast according to a report published by the German machinery group Siemens AG on its website. In the second quarter of January-March, Siemens AG posted a profit of € 2.390 billion, 6 times higher than the previous year’s € 13.784 billion and sales of € 14.665 billion, three times higher than the € 697 million a year earlier.
*) Operating profit rose 31 percent to 2.088 billion euros from 1.592 billion euros and profitability to 15.1 percent from 12.1 percent. Profit-generating revenue of EUR 900 million was generated from the sale of Flender GmbH during the quarter
All Siemens divisions achieved positive results during the quarter, but the automotive, mechanical engineering and software development business performed. Orders rose 8 percent to € 15.879 billion in the second quarter from € 14.664 billion a year earlier. , in the machinery, electronics, chemical and pharmaceutical industries, amid the recovery from the epidemiological crisis. China’s industrial production is already above pre-crisis levels, he pointed out, adding that industrial production in Europe and the United States was growing at an accelerating pace.
He said that good performance and growing performance despite this, Siemens is experiencing “tensions” in its supply chain. The post-crisis rise in household demand for electronics and China’s stockpiling created a shortfall in global supply of semiconductor components, which in some cases pushed up the prices of even the simplest components.
Siemens compared to the first quarterly report. According to this, it expects an increase in its annual turnover of 9-11 per cent compared to the previous financial year, as opposed to the “medium to high single-digit percentage” increase indicated in the previous forecast. Its annual profit could fall into the range of € 5.7-6.2 billion instead of € 5.0-5.5 billion
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