Siemens Q2 Adj. EBITA For Industrial Business Up 7% YoY - Quick Facts

(RTTNews) - Siemens AG (SIEGY.PK, SMAWF) reported that its second-quarter net income was near the prior-year level, while adjusted EBITA for Industrial Business climbed 7% year-on-year, with most businesses increasing their performance. On a comparable basis, excluding currency translation and portfolio effects, orders increased 4% and revenue was up 2%, for the second quarter. Looking forward, the company confirmed its financial expectations for fiscal 2019.

For the second-quarter, income from continuing operations declined 2% to 1.93 billion euros from 1.97 billion euros, previous year. Earnings per share from continuing operations was 2.22 euros compared to 2.30 euros. The company noted that its earnings per share was burdened by 0.08 euros from severance charges. Adjusted EBITA Industrial Business was 2.41 billion euros, up 7%.

Second-quarter revenue was 20.94 billion euros compared to 20.14 billion euros, a year ago. Orders were 23.61 billion euros compared to 22.32 billion euros.

For fiscal 2019, the company continues to expect moderate growth in revenue, net of currency translation and portfolio effects. Siemens expects basic EPS from net income in the range of 6.30 euros to 7.00 euros, excluding severance charges.

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