Siemens
2016 financial year a "historic success"
In the 2016 fiscal year, Siemens exceeded its forecast for the year, which had been raised several times, thanks to a strong industrial business. The company also expects a double-digit earnings margin in this area in 2017, despite a difficult environment.
In the 2016 fiscal year, Siemens grew both order intake and revenue by 5% compared to the previous year. There was a sharp decline in the Process Industries and Drives sector. However, this decline was offset by strong increases in the Power and Gas, Energy Management and Wind Power and Renewables sectors as well as growth in other divisions. The decline in profit after tax from EUR 7.4 billion to EUR 5.6 billion is due to the sale of the hearing aid division and the Siemens stake in BSH Bosch und Siemens Hausgeräte.
In addition to the figures for the full fiscal year, Siemens also presented the results for the fourth quarter. The following picture gallery provides an overview of the individual divisions and details of the annual balance sheet:
Outlook for 2017
Joe Kaeser also gave an outlook for the coming fiscal year: Due to the complex geopolitical environment, he continues to expect headwinds for economic growth and the investment climate. Siemens therefore expects low growth in sales, adjusted for currency translation and portfolio effects. However, the company anticipates an earnings margin of 10.5% to 11.5% in the industrial business.
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