Siemens more and more confident despite Corona - Munich industrial giant raises forecast again

Business is good at Siemens.

The automotive and mechanical engineering industries in particular are ordering a lot.

That raises the confidence in the corporate headquarters on Wittelsbacher Platz in Munich.

Munich - Siemens is leaving the Corona crisis behind: From January to March, the industrial group made a profit jump to 2.4 billion euros after 0.7 billion in the same period of the previous year. Given the strong development, the company raised its forecast for the second time in a row. Above all, business with the automotive industry and mechanical engineering as well as software activities went well, according to the publication of the interim results for the second quarter on Friday. However, the sale of the gear manufacturer Flender also contributed to the jump in profit.

"On this basis, we are even more confident about the second half of our financial year and are significantly raising our outlook both in industrial businesses and for profit after tax," said CFO Ralf Thomas. For the year as a whole, Siemens is aiming for a profit increase of up to 48 percent to 5.7 to 6.2 billion euros. That is 700 million euros more than last time. Sales should also grow faster.

There was also a significant increase in sales, which rose by 6 percent to 14.7 billion euros. Incoming orders increased by 8 percent to 15.9 billion euros. CEO Roland Busch, who nominally took over the reins of Siemens in the course of the second fiscal quarter, is on course for a strong first year: "I am very pleased that we are delivering excellent results and growing profitably in all of our businesses," said he - "despite persistent uncertainties".