German industrial conglomerate Siemens reported its highest-ever profit from industrial activities in the third quarter of its fiscal year. In the three-month period ending in June, profit increased by 25 percent year-on-year to 3.52 billion euros (CZK 85 billion). The company, which manufactures industrial software and trains, among other products, stated this today in its earnings report. At the same time, it raised its full-year outlook.
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Results Beat Market Expectations
The quarterly result beat analysts’ expectations, who had estimated in a poll that profit would reach 3.18 billion euros. Siemens recorded improvements across most of its industrial divisions. The Digital Industries division, which focuses on factory automation, showed particularly strong performance growth.
Revenue rose by seven percent to 20.79 billion euros, also surpassing expectations. Order volume increased by 13 percent to 27.90 billion euros, which the company noted is also a record.
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Siemens Exceeds Growth Estimates
Consequently, Siemens raised its full-year earnings outlook for the fiscal year ending in September. It now expects earnings per share in the range of 11.20 to 11.50 euros, up from its previous estimate of 10.70 to 11.10 euros.
Siemens software is used to design data centers prior to their construction. The company also supplies hardware, such as power distribution equipment for these facilities.
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Source: ČTK
