Siemens Q1 net $476.1m, beats forecast

Tech

FRANKFURT: Siemens AG on Wednesday posted a first quarter net profit of 538
million euros ($476.1 million), including a gain of 157 million related to its
interest in Infineon Technologies, exceeding analyst forecasts.

It posted earnings before interest, tax and amortisation (EBITA) of 487
million euros.

Sales, excluding Infineon, rose seven per cent to 20.496 billion euros from
the period a year earlier, while orders rose 12 per cent to 24.926 billion.

Analysts polled by Reuters had forecast an average net loss of 66 million
euros but the range of estimates was wide. EBITA was forecast to be 180 million
euros from a loss of 130 million euros, while sales were seen at 20.81 billion
euros.