Siemens2016 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.
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In the fourth quarter, Siemens had to announce a decline in order intake and sales in the Process Industries and Drives division. The reason: continued weakness in the oil and gas market and in other commodity-related markets. However, there is still strong demand for components for wind turbines. Earnings will be impacted by EUR 199 million in personnel restructuring expenses in connection with the capacity adjustments already announced . The situation is better at ....
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