Tuesday, January 27, 2015
Currently, Siemens, no stone is left unturned – the technology giant is under construction. In its fiscal first quarter profit drops off significantly. HealthCare CEO Requardt leaves the group.
The technology company Siemens has earned less in the first quarter of its fiscal year. The order intake, providing an indication of future revenues is lower than the previous year. Only sales increased. Here, the Dax-heavyweight benefited from the weaker euro.
For the profit loss Siemens made, inter alia, a change in interest situation and fluctuations in financial instruments responsible. This crack in the in-house asset management a hole of 123 million euros. Operationally, it was different for the Munich in the individual business lines. While business with energy transfer technology and wind turbines growled, had medical technology and the power plant and gas sector (power & amp; gas) to face downturns
“Most of our businesses have developed in line with our expectations, the division.. Power and gas requires a much more far-reaching concept to return to the previous long-term margins, “said chief executive Joe Kaeser. But he also urged additional efforts in the healthcare sector. Their previous boss and longtime Kaeser companion Hermann Requardt took on Monday evening his hat and left the company end of the month.
Kaeser confirmed forthcoming consultations with employee representatives on the impact of corporate restructuring. The talks would be included in next week “with the aim of reaching concrete agreements”. According to a newspaper report of the Economic Committee advises the company on February 4th and 5th on the subject.
Kaeser, Siemens had enacted a radical change in the tilted inter alia, the division of the business sector and medical technology became independent. The reorganization of the costs to be pressed by one billion euros. For months, therefore, over thousands threatened jobs is speculated.
New orders in the first quarter, which covers the months of September to December fell by 11 percent to 18.01 billion euros. The comparison with the same period last year lags, however, since the Company at the time posted a 1.6 billion-euro major order from Saudi Arabia. A similarly large order was not the DAX companies in the reporting period in the net. The book-to-bill ratio in the first quarter, the ratio of new orders to sales, amounted at end-December at 1.03 – Siemens wants to keep this value in the current financial year 1
The turnover. whose comparability is also limited by sales and acquisitions, increased by 5 percent to 17.42 billion euros. Again, Siemens has benefited from the weaker euro. Because the profitability of Germany’s largest industrial group, especially with General Electric is internationally competitive, was down.
New group structure
The result of the industrial business decreased by 4 percent to 1.82 billion euros. The bottom line remained in the first quarter of fiscal year 1.08 billion euros after 1.43 billion euros hang in the previous year. In addition to the weaker operating performance here also played a positive tax effects in the previous year a role. Siemens reported for the first time in the new corporate structure in which reduced the number of divisions in nine out of 16 and the previous four sectors were eliminated entirely.More about
The figures presented misguided apart from the sales market expectations. Analysts had expected new orders of 19.7 billion euros, sales of 17.16 billion euros and profit in the industrial business of 1.85 billion euros.
Siemens nevertheless affirm the outlook for the year ending in September fiscal year. Thus, the margin of the industrial business from 10 to 11 percent and sales are expected to reach last year’s level. Earnings per share will increase by 15 percent. But It also includes capital gains. Siemens is incorporated in early January about 1.4 billion euros from the sale of its 50 percent stake in the BSH Bosch and Siemens Home Appliances Group in joint venture partner Bosch. From the sale of hearing aids Siemens Business expects a pre-tax profit of 1.6 billion euros. Both amounts are included in the figures for the second quarter.