Orders and earnings at industrial conglomerate Siemens were lower than a year earlier in the October-December period, the company said Wednesday, weighed down by weaker performances in the auto and energy sectors.
Siemens said orders for the period, its fiscal first quarter, were down 2 per cent at 24.76 billion euros (USD 27.4 billion). Net profit declined 3 per cent to 1.09 billion euros.
It pointed to "sharply lower large volume from large orders" at its mobility business and a similar issue with the gas and power business. Revenue was up 1 per cent at 20.32 billion euros.
The Munich-based company confirmed its full-year outlook for "moderate growth in comparable revenue, net of currency translation and portfolio effects."
CEO Joe Kaeser said that "
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