Siemens’ Q2 results were a mixed bag with orders above consensus, revenues largely in line and profitability missing estimates. The latter resulted from write-downs in Russia, following the group’s decision to exit its business in the country. Digital Industries and Smart Infrastructure delivered solid performances with Mobility bearing most of the brunt. FCF generation was decent despite the lower profitability. The group confirmed its outlook for the year and now expects the Parcel Logistics t ....
12 May 2022
Russian write-downs steal the show, FY22 outlook confirmed
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Russian write-downs steal the show, FY22 outlook confirmed
Siemens Aktiengesellschaft (SIE:ETR) | 0 0 0.0%
- Published:
12 May 2022 -
Author:
Kulwinder Rajpal -
Pages:
3
Siemens’ Q2 results were a mixed bag with orders above consensus, revenues largely in line and profitability missing estimates. The latter resulted from write-downs in Russia, following the group’s decision to exit its business in the country. Digital Industries and Smart Infrastructure delivered solid performances with Mobility bearing most of the brunt. FCF generation was decent despite the lower profitability. The group confirmed its outlook for the year and now expects the Parcel Logistics t ....