Siemens raises its annual results forecast during the second-quarter results announcement

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Emirates News Emirates News Today: Siemens raises its forecast for its annual results during the announcement of the second quarter results. Source of News – Emirates News Today, with details of the news, Siemens raises its expectations for its annual results during the announcement of the second quarter results:

Emirates News Today, the German company Siemens today raised its forecast for the second time regarding its results during the current year, while announcing its results for the second quarter, thanks to the strong performance in the automotive, machinery and software sectors.

Siemens profits rose by 0.7 billion euros to 2.4 billion euros (2.9 billion dollars) in the quarter from January to March.
Siemens stated that in light of these results, the company raised its forecast for the fiscal year 2021, and now expects to increase the rate of revenue growth in all its sectors from 9% to 11% on a comparative basis.

The company indicated that its net profit will range between 5.7 billion and 6.2 billion euros, compared to expectations of achieving net profits of between 5 billion and 5.5 billion euros, according to previous estimates.
“I am delighted that we have achieved excellent results in all of our units, and are achieving increasing profits in spite of the continuing uncertainty,” said the company’s CEO, Roland Bush, who assumed responsibility during the second quarter.

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