Siemens 4Q Net Profit Beat Expectations
12 Novembre 2020 - 07:57AM
Dow Jones News
By Kim Richters
Siemens AG on Thursday reported a rise in its fourth-quarter
profit, beating expectations, and issued guidance for the current
fiscal year.
The German engineering conglomerate's net profit for the period
ended Sept. 30 rose to 1.76 billion euros ($2.07 billion) from
EUR1.32 billion a year earlier, benefiting from higher income from
discontinued operations and beating analysts' expectations of
EUR1.72 billion, according to a consensus forecast provided by the
company.
Siemens' industrial profit margin for the quarter was 18.7%
compared with 16.0% a year earlier.
Revenue for the quarter fell 6% to EUR15.31 billion, while
orders declined 1% to EUR15.56 billion. Both were hit by negative
currency translation effects, Siemens said.
The company proposed a dividend of EUR3.50 a share for fiscal
2020, down from EUR3.90 the previous year.
For the current full fiscal year 2021, Siemens expects moderate
growth for comparable revenue and net income.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 12, 2020 01:42 ET (06:42 GMT)
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