- Published on Wednesday, 06 August 2014 16:44
- Written by Chris Guy
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.