Siemens raises forecasts again in reporting Q2

Siemens raised its annual forecast for the second time in reporting figures for the second quarter of its book year on Friday, attributing strong results to its automotive, machinery and software units.

Profits were up 0.7 billion euros at 2.4 billion euros (2.9 billion dollars) in the January-March quarter.

“In line with these results, Siemens is again raising its guidance for fiscal 2021 and now expects companywide revenue growth of 9 per cent to 11 per cent on a comparable basis,” the company said.

It put net profits at between 5.7 billion and 6.2 billion euros, up from the previous 5.0 billion to 5.5 billion euros.

In the first quarter, turnover rose by 6 per cent to 14.7 billion euros, with orders up 8 per cent to 15.9 billion euros.

Chief executive Roland Busch, who took up the reins during the second quarter, expressed confidence. “I am very pleased that we have delivered excellent results in all our units and are growing profitably, despite continuing uncertainties,” he said.

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