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News02 August 2018Siemens AGSiemens Korea, Seoul
[Global News] Excellent order growth highlights successful third quarter
Strong Performance continued in nearly all other industrial businesses most prominently in Digital Factory which delivered both the largest profit contribution and highest profit increase among the industrial businesses. However, the revenue decreased due to negative currency translation effects which took five percentage points from order growth and four percentage points from revenue development. Nevertheless, the orders remained strong at €22.8 billion, 16% above the high basis of comparison a year earlier. "Our global team delivered a strong quarter, highlighted by outstanding order intake, outperforming the market. We diligently address our opportunities and challenges going forward," said Joe Kaeser, President and CEO of Siemens AG.
Financial Highlights:
- Excluding currency translation and portfolio effects, orders rose 21% and revenue was level with the prior-year period
- Orders climbed 16% to €22.8 billion driven by a higher volume from large orders, while revenue came in at €20.5 billion, 4% lower than the prior-year quarter due primarily to currency translation effects; the book-to-bill ratio was 1.11
- Industrial Business profit was up 2% at €2.2 billion and Industrial Business profit margin was 10.7%; excellent performance by Digital Factory and improvements in many Divisions partly offset by a sharp decrease in profit and profitability at Power and Gas
- Net income of €1.2 billion was held back by substantially higher income tax rate compared to Q3 FY 2017, which also benefited from positive effects in Centrally managed portfolio activities; basic earnings per share (EPS) of €1.36 compared to €1.67 in Q3 FY 2017
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