Arab Today, arab today siemens abandons profit target
Last Updated : GMT 16:38:19
Arab Today, arab today
Arab Today, arab today

Siemens abandons profit target

Arab Today, arab today

Arab Today, arab today Siemens abandons profit target

Berlin - AFP

German engineering and technology giant Siemens warned Wednesday that full-year profits would fall short of original targets following a difficult second quarter. \"Challenges, mostly in our power transmission business, impact the level of income from continuing operations we originally expected to achieve in fiscal 2012 -- 6.0 billion euros ($7.9 billion) -- by an estimated 600-800 million euros,\" Siemens said in a statement. The group, which runs its business year from October to September, said net profit slumped by 64 percent to 1.015 billion euros in the second quarter, owing to charges in its power transmission business and restructuring at its joint venture with Nokia. \"As expected, the second quarter was not easy,\" said chief executive Peter Loescher. \"Profit for the quarter was below our expectation due to charges at power transmission projects in Germany. We are addressing the problems systematically.\" At the level of sales and orders, \"while we achieved clear growth in revenue, orders came in below the prior year due to lower volume from large orders,\" the chief executive said. Second-quarter revenues rose by 9.0 percent to 19.297 billion euros, while new orders slumped by 13 percent to 17.88 billion euros. But even if Siemens was not expecting to achieve its full-year earnings targets, \"for fiscal 2012, we are on course to achieve our goals for revenue and orders,\" Loescher insisted.

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 siemens abandons profit target Arab Today, arab today siemens abandons profit target

 



Arab Today, arab today

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 siemens abandons profit target Arab Today, arab today siemens abandons profit target

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
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