Siemens AG increased its turnover and profit in the third quarter of its financial year and at the same time raised its annual profit forecast based on a report published by the company.
Siemens AG had sales of € 16.085 billion in the third quarter of April-June 2021, up 24 percent from € 12.979 billion a year earlier. Revenue adjusted for exchange rates increased by 21% on a comparable basis
Operating profit increased by 29% to EUR 2.319 billion from EUR 1.792 billion. Net profit was 1.480 billion euros, 47 percent higher than 938 million a year earlier. Earnings per share increased by 150% to EUR 1.68 from EUR 0.67
Siemens received orders worth EUR 20.486 billion during the quarter, up 47% from EUR 13.906 billion a year earlier
In the first three quarters of its financial year, Siemens generated revenues of EUR 44.820 billion, 11 percent higher than the previous year. Operating profit rose 21 percent to 6.913 billion euros. Net profit rose 131 percent to 5.368 billion euros. Earnings per share were € 6.23 after € 2.81. He pointed out that Siemens is successfully supporting its customers ’efforts to digitize, automate and sustainably manage. Moreover, in a challenging international environment, such as supply chain disruptions
Siemens continued its “very positive” business momentum in the first half of its financial year in the third quarter. This was reflected in double-digit revenue growth, improved profitability and free cash flow. “As a result, we are raising our annual earnings forecast again,” announced Ralf P. Thomas, Chief Financial Officer of Siemens AG.
Assuming that the company will not be exposed for the remainder of the year. ” significant “supplier disruptions, Siemens expects an 11-12 percent increase in revenue this year with an exchange rate adjustment on a comparable basis. In its previous forecast, it indicated a 9-11 percent increase in revenue. The annual net profit could be € 6.1-6.4 billion, compared to an estimate of € 5.7-6.2 billion in the previous forecast. The profit estimate does not include any one-off items that may appear, wrote MTI
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