MUNICH—German industrial conglomerate Siemens AG reported
Thursday a slight decline in net profit for the third quarter of
fiscal year 2015, held back by weak growth at its power and gas
division as it continues to be squeezed by low global oil
prices.
Net attributable profit for the period ended June 30 was €1.36
billion ($1.49 billion), compared with €1.37 billion during the
same period last year, beating analysts' forecasts. Analysts had
forecast net profit of €1.03 billion, according to a recent poll
conducted by The Wall Street Journal.
Revenue rose by 8%, to €18.84 billion, a result of strong growth
in the Healthcare, Energy Management, Digital Factory and Building
Technologies units. New orders increased by 4%, helped by a €1.6
billion long-term train maintenance order at the Mobility
division.
Siemens reported a third quarter industrial profit margin of
9.5%, down from 10.1% last year, as profitability in the Healthcare
and Energy Management divisions offset profit declines at the Power
and Gas business. Analysts had expected a profit margin of 9.2%,
according to the Journal poll.
The company reiterated its guidance for fiscal 2015, saying it
still expects to achieve an industrial profit margin between 10%
and 11%. Siemens also expects basic earnings per share for fiscal
2015 to increase at least 15%, from €6.37 in 2014, while revenue
should remain flat year-over-year.
Write to Christopher Alessi at christopher.alessi@wsj.com
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