Accounts in chiaroscuro for the industrial giant Siemens which in the third quarter of its fiscal year recorded a net loss of 1,5 billion euro mainly due to a write-down of the accounts against revenues increasing to 17,87 billion.
La devaluation of Siemens Energy, subsidiary that became independent but of which the German group still holds 35%, due to profit warning and fall on the stock market, weighed on the result for 2,7 billion euros, while sales increased by 11% in one year, to 17,9 .XNUMX billion.
In fact, we recall that 2 days ago Siemens Energy lowered its estimates for the entire 2021/2022 financial year. In the quarter, the company reported revenues down 4,7% to 7,3 billion euros on a 60% jump in orders to 9,8 billion euros, taking the global portfolio to a record figure of 93,4 billion, so much so that Bruch spoke of a "very strong acquisition of orders, all in the energy transition sector".
Returning to Siemens, the German company has doubled the write-downs related to his exit from Russia, bringing them to 1,2 billion euro. A reality that has had an impact on the prediction ofearning per share: Siemens now sees it between 5,33 and 5,73 euros in 2021/22 instead of 8,70 and 9,10 euros in the previous estimate. On the other hand, the company maintained its revenue growth prospects and expects robust orders from all markets for the coming months as well. An estimate – reads the note from Siemens – that will help the company fight rising inflation and supply chain problems that are weighing on returns.
After the publication of the accounts, on the Frankfurt Stock Exchange, the Siemens title sells 1,8% of its value, falling to 107,4 euros per share. Since the beginning of the year, the shares have lost almost 30% of their value, underperforming the Stoxx 600, which has lost 9% since January.
