Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Siemens Q1 profit down 12%  Join our daily free Newsletter

MENAFN - 24/01/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN) Siemens' chief executive, Peter Loescher, stated that net profit in the first quarter dropped by 12 percent to USD1.616 billion, reported Gulf News.

Loescher said that overall underlying profit in the three months to December gained 4 percent, reaching USD2.26 billion, whereas revenues rose 2 percent to USD24.14 billion.

Meanwhile, profit margin went up to 9.3 percent, compared with 9 percent posted in the same period a year before.

On the other hand, new orders fell by 3 percent in the 3-month period to USD25.5 billion.

For the full year, Loescher noted that the German firm is focusing on reorganizing measures aimed at raising its overall profit margin to a minimum of 12 percent by fiscal 2014.

Moreover, the company plans to acquire specialized firms, and to sell off several activities, including solar energy, in addition to its water treatment activities.

As for the underlying profit for the full year, Siemens expects the figure to range between USD5.99 billion and USD6.65 billion, down from USD6.92 billion last year.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help