27.09.2010 Siemens Press center
Revenue to increase again – Profit from operations at all Sectors remains strong
Siemens expects that new orders and revenue at its Sectors will increase again in the fourth quarter of the current fiscal year compared to both the fourth quarter of fiscal 2009 and the third quarter of fiscal 2010. “In all probability, our operating results for the fourth quarter will be very satisfactory. Particularly in new orders, we’re seeing a further upturn in business activity,” said CFO Joe Kaeser in Munich on Monday. The profitability of Siemens’ operations in the first three quarters of fiscal 2010 will probably extend into the fourth quarter as well. Siemens expects Total Sectors profit – excluding the announced impairment of presumably up to €1.4 billion at its diagnostics business – to exceed the comparable prior-year figure of €1.9 billion. Total Sectors profit will probably include restructuring costs of some €150 million – an amount that, due to the business upturn, is less than recently expected.
New orders and revenue at the three Siemens Sectors — Industry, Energy and Healthcare — will probably increase in the fourth quarter compared to both the previous quarter and the same quarter a year earlier. Accordingly, new orders at the Sectors are expected to total more than €20.1 billion and revenue to be above €18.9 billion.
<…> At the Energy Sector, the positive trend in new orders reported in the third quarter of fiscal 2010 is expected to continue in the fourth quarter. Accordingly, new orders in the fourth quarter will probably be considerably above the comparable prior-year level of about €6.5 billion due primarily to several major orders at the Fossil Power Generation and Renewable Energy Divisions. Sector revenue is likely to be at the same level as the comparable period a year ago with profit slightly below the prior-year level. In the fourth quarter of 2009, the Energy Sector reported profit of €878 million on revenue of roughly €6.8 billion. <…>