Figures for the first quarter of 2019Strong order intake, falling profit at Siemens
Siemens has announced its figures for the first quarter of 2019. While incoming orders set a new record, profits halved. The 'Digital Factory' and 'Process Industries and Drives' divisions recorded some of the strongest sales growth.
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The Energy Management division recorded a very strong increase in the volume of major orders in the transmission solutions and products business. This included an order worth EUR 0.4 billion for high-voltage direct current (HVDC) transmission in Germany and an order worth EUR 0.3 billion for a major project to connect offshore wind farms to the grid in the United Kingdom. The division also recorded considerable growth in incoming orders in the low- and medium-voltage business.