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Siemens Sees Revenue Growth on Strong Orders

Wednesday, 30 Nov 2011 05:02 PM

Siemens AG, a bellwether for the euro zone's largest economy, expects revenue growth in fiscal 2013 on the back of high orders in 2012.

However, the Munich-based maker of products ranging from fast trains and gas turbines to light bulbs and hearing aids expects considerable uncertainties regarding developments in the world economy.

"Based on an expected overall positive development in the markets served by our sectors, we expect continued revenue growth in fiscal 2013," Siemens said in its 20-F filing with the U.S. Securities and Exchange Commission.

"Revenue in fiscal 2013 is anticipated to benefit from an expected book-to-bill ratio above one in fiscal 2012."

Europe's biggest engineering conglomerate, whose current business year ends in September 2012, has four main business sectors: energy, industry, healthcare and infrastructure and cities.

Siemens gave a cautious outlook for 2012 on Nov. 10, when it released its results for the year to September 2011 and announced a smaller-than-expected 11 percent rise in its dividend.

It had forecast flat profit growth in 2012 after ending its year in a turbulent economic environment.

Siemens rival ABB Ltd. has downplayed talk of recession and for the period 2011-2015, the Swiss engineering company set itself a new average annual sales growth target of between 7 percent and 10 percent, aiming to outpace economic and market growth.

 

SEES ENERGY SLOWDOWN

Siemens said Wednesday it had forecast growth in the energy sector would slow in fiscal 2012 and 2013 compared with the first-half of last year, with continuing pressure on prices in the wind market.

It expects adjusted return on capital employed to reach a target range of 15 to 20 percent in 2012 and 2013.

Siemens repeated its targets for operational earnings before interest, tax and amortisation (EBITDA) margins of 10 to 15 percent for the energy sector and 15 to 20 percent for healthcare.

But the EBITDA margin targets for the industry sector was changed to 11 to 17 percent from 10 to 15 percent, while the target for the infrastructure and cities sector - its new operating division - was set at 8 to 12 percent.

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Siemens AG, a bellwether for the euro zone's largest economy, expects revenue growth in fiscal 2013 on the back of high orders in 2012. However, the Munich-based maker of products ranging from fast trains and gas turbines to light bulbs and hearing aids expects...
siemens,europe
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2011-02-30
Wednesday, 30 Nov 2011 05:02 PM
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