Siemens technology group expects the impact of the corona crisis on its operations to be the worst in the coming weeks. The company dropped its financial targets for the whole year when presenting the quarterly figures.
In addition, the profit forecast was completely released, while a “moderate decline” is now forecast for turnover. Previously, Siemens was still expecting moderate revenue growth. Revenues in the second quarter of the broken financial year came to a flat EUR 14.2 billion.
Performance in its industrial branch plummeted. Although factories stayed open firm during the lockdown, fell customer orders. Good business was done with the train branch, as were Siemens Healthineers.