Siemens makes a profit of EUR 1.37 billion in three months – Orders increase to EUR 21 billion from April till June

The net profit of Siemens AG, which makes a vast array of products, from trains, gas and wind turbines, to medical equipment, reached EUR 1.37 billion in the third quarter, a result nearly identical to the one made last year.

The operating profit jumped by 41% to EUR 2.67 billion thanks to the income of EUR 19.8 billion, which is 5% more than in the corresponding period of 2015.

– We have delivered excellent performance in an increasingly difficult market environment – CEO Joe Kaeser stated and at the same time warned of the possibility of the worsening of the market conditions, alluding to Britain’s decision to exit the EU, the terrorism and the strained relations between Turkey and the EU.

All these factors, as he says, create an atmosphere of uncertainty, which causes reluctance. This in turn leads to a difficult investment environment and reduced consumption. These risks, he believes, might dampen the operations in the coming fiscal year 2016/2017.

Nevertheless, in the April-June quarter, Siemens’ order book reached EUR 21 billion, which is 6% more than in the same period last year and is a result of great demand for renewable energy sources.

The German industry giant increased its annual profit outlook due to the great demand for renewable energy sources in the second quarter.

SIEMENS AG Beograd

Siemens

Siemens profit

Siemens income

Joe Kaeser