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Business figures for the Siemens Power and Gas Group in the second quarter of 2018
© Siemens

'Power and Gas' (PG) is currently Siemens' problem child, characterized by lower volumes from major orders in declining markets. In the solutions business in particular, which had recorded higher revenue from major orders in Egypt in Q2/2017, revenue fell sharply. The service business continued to make a strong contribution to earnings. Nevertheless, earnings fell sharply overall due to lower sales revenue, price declines, lower capacity utilization and overall negative effects in connection with the completion of projects.

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