Financial Report Financial reports from the largest companies of the world

Siemens increased the forecasts for annual profit

In the view of increased business and billions of sales revenue Siemens significantly increase its forecast for annual profit. For 2011, the Group expects to account for a profit of at least 7.5 billion EUR, says the company's press release. This is consistent with growth targets three quarters last year. Until now, Siemens expected annual profit of more than 5.5 billion, recalls Handelsblatt. The new forecast excludes the results of rotor losses and subsequently sold IT Division SIS, and subsidiary of lamps Osram, which should become public in the autumn. The sale of the SIS is already reflected on the last sheet of Siemens. Because in the last quarter the Group wrote off 464 million EUR before tax. For the first quarter, Siemens reported a profit of almost 3.2 billion, which is twice the previous period. The difference is due almost exclusively to the sale of shares in the manufacturer of reactors Areva, which increased profit by 1.5 billion EUR. To these are added 100 million EUR by selling shares in Simens manufacturer of tanks KMW.
The revenues from sales in the second quarter of fiscal year for the company (which ends in late September) increased by seven percent to 17.7 billion. Was particularly strong performance of the industrial equipment and technologies for energy.
The contracts are also quite good praise from the concert. The volume of new orders rose last quarter by one quarter to 20.65 billion EUR. The growth is due to the strong demand for wind power and rectifier equipment.