Latest news with #RolandBusch
Free Malaysia Today
15-05-2025
- Business
- Free Malaysia Today
Siemens sticks to forecast despite uncertainty
Siemens' sales rose by 6% to €19.8 billion. (EPA Images pic) FRANKFURT : German industrial giant Siemens reported an unexpected jump in quarterly profits today and stuck to its outlook for the year, but warned of 'increased uncertainty' in the global economy. Net profit came in at €2.4 billion (US$2.7 billion) between January and March, up 11% from a year earlier. Analysts had forecast a slight decline. The better than expected results were driven by strong performances in the mobility division, which makes products including trains, and the infrastructure unit, due to strong demand for data centres. Sales at the group rose 6% to €19.8 billion. However, the troubled digital industries division, which makes software and factory automation systems, reported a 5% slide in sales. The digital division will bear the brunt of some 6,000 job cuts – around 2% of the group's global workforce, which Siemens announced in March. In its second quarter, Siemens also completed its acquisition of Altair, a US software firm using artificial intelligence (AI). It is also in the process of buying Dotmatics, a US manufacturer of scientific software. 'Both acquisitions 'will bring new AI offerings to our customers and open up new opportunities in growth markets such as life sciences,' Siemens CEO Roland Busch said. The group confirmed its outlook for 2025, forecasting sales growth of between 3% and 7% driven by its infrastructure and mobility divisions. It also warned of 'increased uncertainty in the economic environment'. US President Donald Trump's hardline trade policies have upended the long-standing system of global commerce, sparking turmoil on markets and fears of a global downturn.
Bloomberg
15-05-2025
- Business
- Bloomberg
Bloomberg Daybreak: Europe 05/15/2025
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Today's Guests: Euronext CEO Stephane Boujnah & Siemens CEO Roland Busch (Source: Bloomberg)
Business Recorder
15-05-2025
- Business
- Business Recorder
Siemens confirms growth outlook after Q2 figures beat forecasts
ZURICH: Siemens still expects to increase its full-year sales by between 3 and 7% 'despite increased uncertainty', the German engineering group said on Thursday, as it reported better-than-expected profit during its second quarter. The company, whose products include factory software, controllers and trains, said its industrial profit rose 29% to 3.24 billion euros ($3.63 billion) in the three months to the end of March. The figure, helped by a 315-million-euro gain from the sale of its wiring business to ABB, beat analysts' consensus forecast of 2.75 billion euros. Sales rose 7% to 19.76 billion euros, ahead of forecasts for 19.22 billion euros, while orders increased 10%. As a result, Siemens confirmed its outlook for its full-year sales to increase by 3-7% despite seeing 'increased uncertainty in the economic environment'. 'Our customers continue to rely on our technology, and our global footprint demonstrates our resilience,' said Chief Executive Roland Busch in a statement. In March, Chief Financial Officer Ralf Thomas noted hesitancy among customers due to uncertainties about tariffs, with many delaying investment decisions. But Siemens, whose results give an indication of the broader industrial economy, said it was seeing an improving situation in most of its businesses. Although Digital Industries, the company's flagship automation unit, struggled, with a 5% drop in revenue, Siemens said it saw signs of destocking by customers coming to an end. The weakness was compensated by Smart Infrastructure, which combines hardware and software to manage electricity, heating, cooling, lighting, and data in buildings. It increased sales by 12% while profit jumped 61% helped by the sale of its wire accessories business. The division is benefiting from sustained demand for electrification, power distribution and the construction of data centres for artificial intelligence. Mobility also saw revenue and profit rise, buoyed by global investments in rail and transport infrastructure such as electric trains in the United States.
Reuters
15-05-2025
- Business
- Reuters
Siemens CEO calls on German government to support growth
ZURICH, May 15 (Reuters) - Siemens ( opens new tab Chief Executive Roland Busch has high hopes of the new German government, he said on Thursday, but called on Chancellor Friedrich Merz to "act responsibly in these difficult times". The government should do everything it can to promote growth, as well as defend democracy, Busch told reporters after Siemens reported its second-quarter earnings. "Much is at stake," Busch said. "In any case, Germany has the potential to rebound."
The Star
15-05-2025
- Business
- The Star
Siemens confirms growth outlook after Q2 figures beat forecasts
FILE PHOTO: Siemens logo is pictured at Siemens Healthineers headquarters in Erlangen near Nuremberg, Germany, October 7, 2016. REUTERS/Michaela Rehle/File Photo ZURICH (Reuters) -Siemens confirmed its full-year outlook on Thursday "despite increased uncertainty" as the German engineering and technology group reported better than expected profit during its second quarter. The company, whose products include factory software, controllers and trains, said its industrial profit rose 29% to 3.24 billion euros ($3.63 billion) in the three months to the end of March. The figure, helped by a 300-million-euro gain from the sale of its wiring business to ABB, beat analysts' consensus forecast of 2.75 billion euros. Sales rose 7% to 19.76 billion euros, ahead of forecasts for 19.22 billion euros, while orders increased 10%. As a result, Siemens confirmed its outlook for its full-year sales to increase by 3-7% despite "increased uncertainty in the economic environment". "Our customers continue to rely on our technology, and our global footprint demonstrates our resilience," said Chief Executive Roland Busch in a statement. ($1 = 0.8931 euros) (Reporting by John Revill, editing by Rachel More and Mark Potter)
