Siemens: misses consensus in Q1

(CercleFinance.com) - The Siemens share is down 1.
5% in Frankfurt this morning, after the group published Q1 net income that was halved to 1.1 billion euros, or 1.26 euro per share, while the consensus expected thirty cents more.

The conglomerate nevertheless saw its revenues inch up 1% to 20.1 billion euros, while its orders increased 12% to 25.2 billion euros (+2% and +13% on a comparable basis), meaning a book-to-bill ratio of 1.25.

However, operating profit (EBITA) of industrial activities fell by 6% to less than 2.1 billion euros, a decline that the German industrial giant mainly attributes to falls in its oil-gas businesses and energy management.


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