Siemens - 3rd quarter 2018Incoming orders grow, sales stagnate
In the third quarter of 2018, Siemens recorded double-digit growth in order intake, while sales stagnated. Particularly good business in the 'Digital Factory' division offset losses in the 'Power and Gas' division.
The Power and Gas division achieved a higher volume of major orders - this includes orders in Israel and the United Kingdom of EUR 0.4 billion each for gas and steam turbine power plants, including service. However, there was a sharp drop in sales revenue with declines in all reporting regions, which was also reflected in the sharp fall in earnings. According to Siemens, global energy trends continue to exert structural pressure on general demand in the markets served by the division. (The figures for orders and revenue are stated on a comparable basis - i.e. excluding currency translation and portfolio effects)