Siemens 2nd quarter 2020No forecast for 2020
Siemens is suspending its forecast for 2020. The reason is the current situation. Nevertheless, the company "delivered a robust quarter despite complicated environmental conditions".
© Siemens
Earnings before income taxes were heavily impacted by the effects of Covid-19, in particular by a very sharp increase in loan loss provisions of EUR 52 million. In contrast, Q2/2019 benefited from a gain of EUR 57 million from the sale of a stake in an investment.