on Thursday reported better-than-expected profit at its industrial business in the final set of results overseen by long-standing Chief Executive Joe Kaeser.
The trains to factory software-maker said it expected market conditions to improve next year as the global economy made a cautious recovery from the coronavirus pandemic. “While we anticipate that important customer industries for Siemens will continue to face challenges related to the pandemic and industry-specific structural changes ... we expect improved conditions particularly for our high-margin shortcycle businesses in the second half of fiscal 2021,” the Munich company said.
Group revenue of 15.31 billion euros missed forecasts for 15.50 billion euros, although orders of 15.56 billion euros were better than expected. Both figures were lower than a year earlier as demand was hit by the coronavirus pandemic.
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