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
-
WACCE urges gov’t to declare state of emergency in galamsey-prone areas
51 minutes -
NACOC boss calls for practical cross-border action against drug trafficking
1 hour -
Ghana calls for stronger regional cooperation to combat drug trafficking
2 hours -
Ablakwa presents bicycles to 100 North Tongu day students
2 hours -
Ablakwa supports 2,269 North Tongu SHS students with essential items
2 hours -
Dr Bawumia expresses sympathy with farmers over their inability to sell their produce even at reduced prices
2 hours -
Constitutional review: Govt must keep discussions open – Dr Tandoh
2 hours -
GPL 2026/27: David Gyamfi hat-trick fires Ashantigold to historic first victory
2 hours -
Ericsson celebrates 150 years of global innovation, 30 years of partnership and digital transformation in GhanaÂ
3 hours -
Ghana’s Ambassador to Serbia hosts African ambassadors’ September meeting in Belgrade
3 hours -
Ghana closer to terrorism threat than ever before – WACCE
3 hours -
Gov’t must focus on quality everywhere, not categorisation of public schools – Ben Boakye
3 hours -
Tanko Computer backs comprehensive review of 1992 Constitution
3 hours -
2026 SHS placement crisis was caused by changes to established model – Former Dept. GES Director
4 hours -
GMet forecasts thunderstorms, rain across parts of Ghana tonight
4 hours