Audio By Carbonatix
German engineering group Siemens reported on Thursday better-than-expected preliminary results for its fiscal first quarter, driven by a strong performance of its digital division.
The trains-to-factory software maker said it would review its outlook for fiscal 2021 when it publishes its first-quarter earnings in full on Feb. 3.
In November, Siemens gave a cautious outlook on its recovery from the COVID-19 pandemic, saying it expects government and company investment this year to lag the global rebound, forecasting moderate revenue and earnings improvement in 2021.
On Thursday, it said first quarter sales for its digital industries unit rose a comparable 5% to 3.765 billion euros ($4.58 billion), ahead of analysts consensus for 3.561 billion, while adjusted earnings before interest, taxation and amortisation (EBITA) came in at 848 million euros.
Its smart infrastructure division also did well, with revenue up a comparable 4% to 3.477 million euros and adjusted EBITA of 391 million, both ahead of consensus.
However, the mobility unit missed expectations, with revenue of 2.193 billion euros and adjusted EBITA of 219 million.
Latest Stories
-
Turn CSIR research into commercially viable products for national dev’t – Dr Agyeman-Rawlings
10 minutes -
Baffour Awuah thanks Bawumia, NPP supporters after GH¢10m bail
12 minutes -
Ghana gaining notoriety for drugs – Bawumia demands bipartisan probe
28 minutes -
Government urges SMEs to embrace digitalisation for growth and job creation
31 minutes -
Ghana’s university libraries urged to lead change in digital age
35 minutes -
NPP National Delegates Conference: Nhyiaeso MP calls for unity and peace
48 minutes -
Cargill Ghana renovates, equips ICT laboratory for Ahmadiyya Basic School
50 minutes -
GH¢6,500 cocoa promise has turned out to be a scam – Bawumia
51 minutes -
Firefighters battle blaze behind Amasaman China Mall
52 minutes -
We’ll pursue accountability despite intimidation – Afenyo-Markin
56 minutes -
‘Ghana Jollof’: Restoring the flavor
1 hour -
SSNIT outlines plans to transform Labadi beachfront into tourism hub
1 hour -
Today marks the beginning of a glorious chapter of the NPP – Bawumia
1 hour -
‘Justice has prevailed’ – Atta Akyea reacts to Baffour Awuah’s GH¢10m bail
2 hours -
I’m above board, no dirt can stick on me – Baffour Awuah
2 hours