Siemens - Q4 and full year 2018Power plant division as a brake pad
Siemens has closed the 2018 financial year: The company was able to increase its order intake and sales, but profits in the Industrial Business declined. This is attributable to the sluggish business in the Power and Gas Division.
The 'Energy Management' division recorded a sharp decline in incoming orders due to the high comparative basis in the previous year, which had included a major order totaling EUR 0.8 billion in the transmission solutions business for a grid connection project for offshore wind farms in Germany. All other businesses recorded increases on a comparable basis. The division also increased its sales on a comparable basis, led by the low-voltage technology, medium-voltage technology and systems businesses, although this was partially offset by a decrease in the transmission solutions business