Arab Today, arab today crisis forces profit warning at siemens
Last Updated : GMT 04:30:55
Arab Today, arab today
Arab Today, arab today

Crisis forces profit warning at Siemens

Arab Today, arab today

Arab Today, arab today Crisis forces profit warning at Siemens

Berlin - AFP

German engineering giant Siemens said it would be harder to achieve its annual profit targets, as the gloomy global economic mood weighed on orders, especially in the field of renewable energy. \"Given the deteriorating environment it becomes more difficult to achieve\" the goal of an operating profit of 5.2 to 5.4 billion euros\" ($6.3 billion to $6.6 billion) this year, chief executive Peter Loescher said in a statement, released on Thursday. This was the second time Siemens had been forced to revise down its targets after a similar profit warning three months ago. Loescher said a \"deceleration of the global economy\" was to blame for thinning orders for the firm\'s power plants, machines and vehicles. \"We see growing reluctance among our customers regarding capital expenditures and stronger economic headwinds,\" he said. The group saw orders drop by 23 percent in the second three months of the year, compared to the same period last year, although it noted that 2011\'s figures were boosted by a large order to supply trains in Germany. Orders in renewable technologies dropped by 66 percent compared to the previous year period. Nevertheless, the group reported an operating profit of 823 million euros, a gain of 78 percent on the corresponding period last year. However, this disappointed analysts surveyed by Dow Jones Newswires, who had forecast an operating profit of 1.3 billion euros. The large rise in operating profit was explained by a large charge last year relating to litigation with French group Areva, which hit the German firm\'s profits hard. Revenues in the April to June period, Siemens\'s third quarter for accounting purposes, rose by 10 percent on the year to 19.5 billion euros, slightly above analysts\' expectations.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today crisis forces profit warning at siemens Arab Today, arab today crisis forces profit warning at siemens

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today crisis forces profit warning at siemens Arab Today, arab today crisis forces profit warning at siemens

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday