Siemens (ABB) Profit to Grow Next Year, Finance Chief Says

Startbeitrag von luckman_ch am 09.06.2008 10:49

Siemens erhöht die Gewinnprognosen.....

Siemens Profit to Grow Next Year, Finance Chief Says (Update1)

By Andreas Scholz and Sheenagh Matthews
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June 9 (Bloomberg) -- Siemens AG, Europe's largest engineering company, will return to earnings growth next year, Chief Financial Officer Joe Kaeser said in an interview.

Operating profit in the current year through September will be little changed after a review of orders led to extra costs to cover delays and cancellations, Kaeser reiterated. Munich-based Siemens booked 857 million euros ($1.36 billion) in order-review charges in the three months through March.

``I'm quite sure we'll do better'' for operating profit in the fiscal year ending in 2009, Kaeser said in the June 7 interview following a presentation at the Frankfurt School of Finance and Management. He didn't give a specific forecast.

Chief Executive Officer Peter Loescher has cut management layers and costs by pooling nine operating units into three divisions called energy, industry and health care. Siemens's products range from light bulbs to medical scanners and wind turbines, and Loescher aims to boost profitability to the level of rivals such as ABB Ltd. and General Electric Co. Customers include German carmaker Daimler AG and utility E.ON AG.


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