06272016Mon
Last updateFri, 24 Jun 2016 2pm

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Valve Manufacturing

Siemens Industry Reports Third Quarter 2014 Profits

Third-quarter profit in Siemens Industry rose to €548 million, as an improved product mix more than offset unfavorable currency effects, lifting profit margins at both Divisions within the sector. For comparison, Siemens Industry profit of €363 million in the prior-year period included €122 million in “Siemens 2014”charges.

Siemens Industry’s profit performance reflects improvement in its short-cycle businesses. Third-quarter revenue came in 1% below the prior year level and orders rose 1% year over-year, both held back by negative currency translation effects. On a comparable basis, revenue was up 3% and orders grew 5%. On a geographic basis, order and revenue development primarily included increases in China.

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