Siemens Income Q1 2021

Siemens on Wednesday lifted its full-year guidance after a strong fiscal first quarter, with market expectations, revenue and net income expected.

The German group reported a 39% increase in adjusted EBITDA (income before interest, tax, depreciation and amortization), while net income for the period October to December was 1.1 billion euros to 1.5 billion euros ($ 1.81 billion) for the same period. ) happened. Last year.

Orders jumped 15% with the company citing expectations of rapid growth in China and Germany after the Kovid-19 recession. Now Siemens expects net income for the entire fiscal 2021 between 5 billion and 5.5 billion euros, with updated guidance forecasting higher single-digit growth percentages for the 12 months to September 2021.

2.13 billion euros EBITDA for the quarter exceeded the consensus forecast of 1.67 billion compiled by the company and 1.42 billion estimates, on average by analysts polled by Reuters.

“What is seen in Outing Asia, and in China in particular, is that there is a massive demand, especially for those industries or for the end markets that the gaming industry and people living outside the home , “Outgoing Siemens CEO Joe Kaiser told CNBC’s Annette Weisbach on Wednesday.

Kaiser also said that the Chinese global export model also helped boost demand for lockdown-friendly industries.

“Think about smart phone gaming and the like and that’s where the biggest demand has been, and they are very modern industries, so they are very automated lines and they require a lot of manufacturing software in automation, And that’s why we have a lot of profit in that area. “

However, he suggested that Germany and the rest of Europe be more of a “catch up game” than an opportunity for long-term growth. Kaiser anticipated that the US would be the second half of the calendar year and the biggest occasion in 2022.