Stock Groups

Siemens posts sales and orders beat during fourth quarter -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: This is the logo of German industrial company Siemens, seen in Zurich Switzerland on January 30, 2019. REUTERS/Arnd Wiegmann/File photo GLOBAL BRANCH WEEK Ahead

John Revill

ZURICH (Reuters), Siemens reports better-than-expected orders and sales in its fourth quarter. The engineering and technology firm tackled supply chain issues that have hindered the recovery from the pandemic.

According to this maker of software for factories and trains, its sales rose 18% in the period ending Sept. to 17.44 Billion Euros ($20.17 Billions), exceeding the forecast of analysts of 16.82 billion.

According to the German company, orders increased 26% to 19.07 trillion euros. That’s more than expected for 17.56 billion euros.

Munich’s company stated that it is seeing opportunities for growth in several key markets despite the “ongoing supply chains risks associated primarily avec electronics components and primary raw materials”. However, these risks were reduced by the Munich company during the quarter.

($1 = 0.8648 euros)

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are provided by market makers and are therefore not necessarily accurate. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is an extremely risky investment. Please make sure you are fully aware of all the costs and risks involved.



[ad_2]