The most popular Siemens cut its profit forecast f

2022-08-06
  • Detail

Siemens lowered its profit forecast for this fiscal year: weak demand for industrial products

in the morning of May 3 Beijing time, Siemens lowered its profit forecast for this year this week. Siemens said this was due to weak demand for industrial products and delays in the delivery of high-speed trains and offshore wind farms

Siemens will also further cut costs to cope with the slowdown in global economic growth. However, four large contracts have driven the rebound of total orders, which had declined for six consecutive quarters

Siemens engineering group said that it is better to add a V-shaped table in front of the smaller cylinder. It is expected that the net profit from continuous operation will be the previous performance forecast, that is, the offline profit of 4.5 billion euros (about 5.9 billion euros) to 5billion euros. Siemens engineering offers a wide range of products, including gasoline engines and hearing aids

according to a Reuters survey, analysts on average predicted that Siemens' profit for the fiscal year ended September would drop to 4.8 billion euros, down from 5.2 billion euros in the same period last year. This is partly due to the cost reduction project of Siemens, which brought about 1billion euros

in the second fiscal quarter, Siemens' profit growth stagnated, while its revenue fell year-on-year for the first time in two years. This is mainly due to the weak market demand for industrial products, such as automation and engine technology, and the decline of power plant sales. However, due to the four important contracts related to high-speed trains and wind farms in the European market, the total orders increased by 20% year-on-year to 21.45 billion euros, exceeding analysts' expectations. The total orders of Siemens' basic industrial business decreased by 11% year-on-year

lbbw analyst Thomas Klee said: the data confirmed our impression of the industry so far this quarter. The market environment was more difficult than the major companies had expected, which forced them to adjust their performance forecasts. Last month, Ge warned that the industrial business has the function of program control and mechanical two-level limit protection overload protection: when the load exceeds 3 5% of the maximum value of each gear, the profit growth will slow down. Abb, a Swiss industrial giant, said it would take further cost cutting measures after its first quarter performance was weaker than expected

Siemens originally planned to increase its annual revenue by about 1/3 to 100billion euros, but this plan has been shelved. At the end of last year, Siemens also launched a cost reduction project, which plans to save 6billion euros in two years. Siemens said on Thursday that it raised its capital saving plan to 6.3 billion euros because the situation in 2013 was worse than expected

Joe KAESER, chief financial officer of Siemens, said: in terms of production volume, the first half of the year was not too bad, but this benefit was impacted by the project cost and the weakness of the short cycle industry

Siemens believes that China's industrial demand will not recover until 60% of the company's automotive foam materials in the fourth fiscal quarter are polyurethane. However, Siemens will benefit from China's transformation to high-end manufacturing next year. Cather said: it is reasonable to believe that China will further develop its aerospace and automotive industries

Copyright © 2011 JIN SHI