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    SIE   DE0007236101

SIEMENS AG

(SIE)
  Report
Delayed Xetra  -  11:35 2022-09-26 am EDT
98.25 EUR   -0.39%
09:06aSiemens automates design process for testing new chips with advanced packaging
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05:33aCms : Siemens Aktiengesellschaft: Release of a capital market information
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09/23U.S. business equipment borrowings grow 4% in August - ELFA
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Siemens Swung to Loss in 3Q on Impairment Charge; Cut EPS Target for Fiscal Year 2022

08/11/2022 | 01:38am EDT

By Kim Richters


Siemens AG cut the outlook for earnings per share for the full fiscal year after it swung to a loss in its third quarter due to an impairment on its investment in Siemens Energy AG.

The German industrial conglomerate said Thursday that its net loss was 1.66 billion euros ($1.71 billion) for the period ended June 30, compared with a profit of EUR1.35 billion a year earlier. Analysts had forecast a loss of EUR532 million, according to consensus estimates provided by Siemens.

The company had booked an impairment of EUR2.7 billion on its investment in Siemens Energy AG during the three-month period. It also saw about EUR600 million in Russia-related charges.

Siemens said revenue for the quarter was EUR17.87 billion compared with EUR16.09 billion for the year-earlier period, beating analysts expectations of EUR17.47 billion. Orders rose to EUR22.01 billion from EUR20.49 billion.

For the full fiscal year 2022, Siemens lowered the target for basic earnings per share from net income before purchase price allocation accounting due to the Siemens Energy impairment. It now sees the metric, also called EPS pre PPA, at EUR5.33 to EUR5.73, down from EUR8.70 to EUR9.10 previously. It confirmed the target of 6% to 8% growth in comparable revenue, net of currency translation and portfolio effects.


Write to Kim Richters at kim.richters@wsj.com


(END) Dow Jones Newswires

08-11-22 0137ET

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG -0.39% 98.25 Delayed Quote.-35.65%
SIEMENS ENERGY AG 2.10% 11.69 Delayed Quote.-48.02%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 3.60% 58.534 Delayed Quote.-24.11%
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Analyst Recommendations on SIEMENS AG
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Financials
Sales 2022 70 379 M 67 894 M 67 894 M
Net income 2022 3 973 M 3 833 M 3 833 M
Net Debt 2022 37 922 M 36 583 M 36 583 M
P/E ratio 2022 20,6x
Yield 2022 4,24%
Capitalization 77 576 M 74 837 M 74 837 M
EV / Sales 2022 1,64x
EV / Sales 2023 1,53x
Nbr of Employees 308 000
Free-Float 88,3%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 98,25 €
Average target price 148,74 €
Spread / Average Target 51,4%
EPS Revisions
Managers and Directors
Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Head-Corporate Finance, Accounting & Controlling
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Bernhard Wardin Head-Technology & Innovation
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