German engineering group Siemens reported on Thursday better-than-expected preliminary results for its fiscal first quarter, driven by a strong performance of its digital division.
The trains-to-factory software maker said it would review its outlook for fiscal 2021 when it publishes its first-quarter earnings in full on Feb. 3.
In November, Siemens gave a cautious outlook on its recovery from the COVID-19 pandemic, saying it expects government and company investment this year to lag the global rebound, forecasting moderate revenue and earnings improvement in 2021.
On Thursday, it said first quarter sales for its digital industries unit rose a comparable 5% to 3.765 billion euros ($4.58 billion), ahead of analysts consensus for 3.561 billion, while adjusted earnings before interest, taxation and amortisation (EBITA) came in at 848 million euros.
Its smart infrastructure division also did well, with revenue up a comparable 4% to 3.477 million euros and adjusted EBITA of 391 million, both ahead of consensus.
However, the mobility unit missed expectations, with revenue of 2.193 billion euros and adjusted EBITA of 219 million.
Latest Stories
-
SAFA President Danny Jordaan arrested for alleged $71k fraud and embezzlement case
15 mins -
Bagbin risks 10-year jail if he defies Supreme Court – Justice Atuguba
37 mins -
The Exploratory partners HPW Ghana to expand practical STEM education in rural Ghana
40 mins -
Path to economic recovery challenging but overarching trend remains positive – GIPC
51 mins -
Mobile Money fraud: Deloitte to hold training on Fundamentals of Digital Forensics and e-Discovery
55 mins -
Ghana bagged $179.07m from FDIs in first-half of 2024
59 mins -
MobileMoney rewards loyalty, excellence at its 15th anniversary celebration
1 hour -
2024 Election: Predictions of NDC victory cannot hold – Yendi MP
2 hours -
Ghana’s Petroleum Hub Project to transform petroleum downstream sector
2 hours -
Mohammed Kudus will come back from red card suspension stronger – Michail Antonio
3 hours -
AFCON 2025Q: Ghana’s chances of qualifying are ‘low to impossible’ – Angola coach
3 hours -
Sammi Awuku leads NPP youth to rally support in Odododiodio and Korle Klottey constituencies
3 hours -
AFCON 2025Q: Stars to fly with 22 players for Angola test, Ebenezer Annan to join in Luanda
3 hours -
Historic coronation of Torgbi Mileba III: A celebration of heritage with support from Vanuatu’s Trade Commissioner to Ghana
4 hours -
Bawah Fuseini aims to transform National Sports College into international standard facility
4 hours