(CircleFinance.com) –
Siemens today presents its results for the second quarter. Revenue and orders each increased 15% on a like-for-like basis. The profit from the industrial activity increased by 47%, to 2.6 billion euros, with a profit margin of 14.2%.
Net profit increased to €3.6 billion, also benefiting from the reversal of an impairment of Siemens’ stake in Siemens Energy AG, which resulted in a non-taxable gain of €1.6 billion .
The corresponding basic earnings per share (EPS) was 4.39 euros and the EPS before accounting for the purchase price allocation (EPS before PPA) was 4.57 euros.
Free cash flow from continuing and discontinued operations reached 2.3 billion euros for the quarter.
Following this first half, Siemens is revising its outlook for the fiscal year upwards. “We now expect comparable store sales growth, net of currency and portfolio effects, in the range of 9% to 11% (vs. 7% to 10% previously).
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