Siemens - 1st quarter 2017'Digital Factory' division stands out
Siemens CEO Joe Kaeser looked back on a strong first quarter at the 2017 Annual Shareholders' Meeting: although order intake fell, earnings exceeded the company's own expectations. The 'Digital Factory' division contributed to this in particular.
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... for the Power and Gas Division. In this market segment, Siemens has to fight for every order and the price pressure is high. Nevertheless, the division was able to book a total of eleven orders for large gas turbines and deliver twelve large gas turbines in the first quarter. The significant decline in order intake was largely due to an extraordinarily high level in the previous year as a result of the Egypt orders, the first tranche of which was booked in the first quarter of fiscal year 2016.