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Siemens +4% as quarterly net profit climbs 20%

Published 11/10/2016, 12:59 PM
Siemens +4% as quarterly net profit climbs 20%
SIEGY
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  • Siemens (OTCPK:SIEGY +4.1%) enjoys strong gains after reporting a 20% jump in FQ4 earnings, driven by strong underlying growth at most of its industrial business divisions, on a 3% gain in revenues to €21.95B.
  • FQ4 orders of €20.3B were 14% lower than the year-ago period which included a substantially higher volume from large orders; excluding the change from large orders, orders rose moderately.
  • Siemens forecasts FY 2017 basic EPS from net income of €6.80-€7.20, compared to €6.74 in FY 2016 which included €0.23 from discontinued operations, and expects a profit margin for its industrial business of 10.5%-11.5%, compared with 10.8% in FY 2016.
  • CEO Joe Kaeser warns that rising populism is a threat facing business and the global economy, singling out the populist political movements on the rise in Europe such as the referendum vote in the U.K. to leave the European Union; he says he does not see the Trump election in the U.S. in the same vein.

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