Siemens revenue in Q2 €14.23B

Friday, 08. May 2020 07:06

Siemens AG on Friday reported revenue of €14.23 billion in its second quarter of the fiscal 2020, 1% lower than in the same period last year. Orders declined 8%, to €15.1 billion, on sharply lower volume from large orders at Mobility sector.

Net income was €0.7 billion in the second quarter, which means the figure fell by €0.3 billion because of discontinuing operations. In second quarter 2019, net income was €1.9 billion. Earnings per share declined to €0.80

CEO Joe Kaeser stated: "We delivered a robust quarter given the serious circumstances. I am particularly impressed with my team that we are able to keep the original timeline for the spin-off of our energy business. While we expect to reach the bottom in the third quarter of fiscal 2020, we continue to keep the health and safety of our partners and employees as our first priority, while maintaining business continuity as much as responsibly possible."

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Breaking the News / TF