Siemens - the 3rd quarter of 2019'Digital Industries' and 'Gas and Power' cause concern
Despite considerable headwinds in key markets, Siemens grew its order intake and revenue in the third quarter of 2019. EBITA and profit, on the other hand, fell, mainly due to declines in 'Digital Industries' and 'Gas and Power'. The figures in detail.
The growth in orders and sales revenue in the software and process automation business in the Digital Industries division was outweighed by declines in the short-cycle factory automation and motion control businesses - primarily due to a further drop in demand from the automotive and mechanical engineering industries. In geographical terms, lower incoming orders and sales revenue in the Europe, CIS, Africa, Near and Middle East (Europe/GANO) and Americas regions outweighed the increases in the Asia, Australia region, which were primarily due to very strong growth in the software business - particularly in China.