Siemens reports net income down 46% in Q4 YoY, at €681M

Thursday, 08. November 2018 07:39

Siemens AG reported on Thursday its net income for the fourth quarter of fiscal 2018 stood at €681 million, dropping 46% compared to the same period of last year. The company added that its basic earnings per share amounted to €0.69, declining 55% on an annual basis.

Siemens' revenue for the period stood at €22.6 billion, marking a rise of 2% year-on -year. Meanwhile, the firm's industrial business profit stood at €2.15 billion, virtually unchanged compared to the fourth quarter of fiscal 2017. The German company also stated its orders remained unchanged on an annual basis, reaching a figure of €23.7 billion.

"This shows the strength of our global team which competed convincingly in both growth markets and difficult environments, and achieved another strong performance. In fiscal 2019 we will give our businesses even greater entrepreneurial freedom, and lay the foundation for execution of Vision 2020+," Siemens AG CEO and President Joe Kaeser stated.

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