SIE Siemens AG

   By Kim Richters 
 

Shares in Siemens AG (SIE.XE) rose Thursday after the engineering conglomerate reported strong results for its fourth quarter and a guidance for its next fiscal year.

The German company beat analyst expectations for its fourth quarter, with net profit of 1.32 billion euros ($1.46 billion), revenue of EUR24.52 billion and orders of EUR24.71 billion all higher than consensus forecasts.

Order intake in most divisions was higher than expected, except in Siemens's mobility business, UBS said, adding that the segment faced a tough last-year comparison basis.

Furthermore, Siemens issued a "solid" guidance for its 2020 fiscal year, UBS said, which includes a moderate decline in market volume for its short-cycle businesses and moderate growth in comparable revenue.

The company's forecasts for adjusted Ebita margins at its digital industries and smart infrastructure divisions--17% to 18% and 10% to 11% respectively--are ahead of expectations, analysts at Citi said.

The guidance for digital industries is particularly positive and "will be seen as a relief after recent market conjecture of a much more challenging year for profits in 2020," they said.

At 1043 GMT, shares in Siemens traded 5.2% higher at EUR114.02.

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

(END) Dow Jones Newswires

November 07, 2019 06:18 ET (11:18 GMT)

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