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Press Release26 July 2012Siemens AGMunich, Germany
Siemens feels impact of more difficult market environment in third quarter
Siemens felt the impact of a more difficult global market environment in the third quarter of fiscal 2012. Thanks to a solid order backlog and positive currency translation effects, revenue was up ten percent compared to the third quarter of fiscal 2011. On the other hand, new orders were down 23 percent due to a substantially lower volume from major orders like the ICx order from Deutsche Bahn in the prior-year quarter. Profit was considerably above the prior-year figure, which had been burdened by negative profit effects connected with an arbitration decision and the particle therapy business. "The deceleration of the world economy has increased in the past few months. We see growing reluctance among our customers regarding capital expenditures and stronger economic headwinds, especially in our industrial short-cycle businesses," said Siemens CEO and President Peter Löscher. "Therefore, our focus above all is on increasing our productivity and efficiency. Given the deteriorating environment, it is becoming more difficult to achieve our guidance for the fiscal year."
Siemens felt the impact of a more difficult global market environment in the third quarter of fiscal 2012. Thanks to a solid order backlog and positive currency translation effects, revenue was up ten percent compared to the third quarter of fiscal 2011. On the other hand, new orders were down 23 percent due to a substantially lower volume from major orders like the ICx order from Deutsche Bahn in the prior-year quarter. Profit was considerably above the prior-year figure, which had been burdened by negative profit effects connected with an arbitration decision and the particle therapy business. "The deceleration of the world economy has increased in the past few months. We see growing reluctance among our customers regarding capital expenditures and stronger economic headwinds, especially in our industrial short-cycle businesses," said Siemens CEO and President Peter Löscher. "Therefore, our focus above all is on increasing our productivity and efficiency. Given the deteriorating environment, it is becoming more difficult to achieve our guidance for the fiscal year."
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world's largest provider of environmental technologies. Around 40 percent of its total revenue stems from green products and solutions. In fiscal 2011, which ended on September 30, 2011, revenue from continuing operations totaled €73.5 billion and income from continuing operations €7.0 billion. At the end of September 2011, Siemens had around 360,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: www.siemens.com.