24 Jan 2013

Lower earnings and orders reported by Siemens

8:02 am on 24 January 2013

German engineering group Siemens has reported lower earnings and orders in the first quarter.

AAP reports new orders declined by 3% to 19.141 billion euros in the three months to December.

Revenues rose by 2% to 18.128 billion euros, but net profit fell by 12 per cent to 1.214 billion euros.

Looking ahead to the full year, chief executive Peter Loescher said in a statement on Wednesday that "the outlook remains unchanged".

Orders and revenues were projected to show "moderate growth ... approaching the level of fiscal 2012."

Full-year underlying profit was forecast in a range of 4.5 to 5 billion euros.