Siemens report massive profits

Siemens AG have reported continued growth with revenues rising by 7%. The company boasted a profit of €3.695 billion including strong growth in their energy and industry sectors and a […]

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By Tom Gibson

Siemens AG have reported continued growth with revenues rising by 7%.

The company boasted a profit of €3.695 billion including strong growth in their energy and industry sectors and a €1.520 billion gain from the divestment of their stake in Areva NP.

Peter Löscher, President and Chief Executive Officer of Siemens AG, said: “We’ve achieved outstanding, broad-based order growth. We’re raising our earnings forecast for fiscal 2011 to at least €7.5 billion.”

Siemens also said that their emerging economies grew faster than orders and revenue overall.