Siemens CFO Anticipates Full-Year Sales Growth Below Forecasts, According to Reuters

Siemens has announced that it will report lower-than-expected sales growth for the full year, according to Chief Financial Officer Ralf Thomas in a recent interview. Despite this outlook, profits are expected to remain stable, and there is potential for an increase in dividends.

In its previous results, Siemens indicated its anticipation for a full-year comparable revenue growth of 4% to 8%, although it now appears to be trending closer to 3%.

Thomas noted that the company’s profitability is aligning with its prior announcements and stated that Siemens is set to release its full-year results on November 14. The company’s earnings per share are projected to be between 10.40 euros and 11.00 euros.

While Siemens is facing challenges due to a general economic downturn, Thomas mentioned that a dividend increase is likely. The company is experiencing particularly weak demand for factory automation in China, compounded by difficulties in Italy and Germany.

Thomas remarked that achieving sales goals for automation will be difficult, emphasizing that the first half of the upcoming financial year will present significant challenges. He also mentioned that the effects of China’s recent economic stimulus measures would take time to materialize, leading Siemens to focus more on the growing demand for its automation products in the U.S.

“We have a lot of good ideas for the U.S.,” Thomas added.