Look like SMS is doing OK in Germany sofar, maybe they'll do much better next year when they get TNG in full operation.
Profits Jump 25 Percent at Germany's Siemens
By THE ASSOCIATED PRESSJAN. 31, 2017, 6:09 P.M. E.S.T.
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FRANKFURT, Germany — Siemens AG, the German maker of power turbines, trains and medical machines, said Tuesday that its net income rose 25 percent to 1.93 billion euros ($2.06 billion) for its most recent quarter and raised its earnings prediction for the year.
The Munich-based company said the strong performance in the final three months of last year — the company's fiscal first quarter — allowed it to raise its outlook for all of fiscal 2017. It now expects earnings per share in a range of 7.20-7.70 euros, up from 6.80-7.20 euros previously.
The company credited strong execution of orders from its backlog for boosting revenue at its power and gas business. It touted its progress toward completing three power stations at in Egypt that will supply electricity to 45 million people.
Revenue rose 1 percent to 19.11 billion euros.
Earnings got a 172 million euro boost from Siemens contributing its eCar business to a 50-50 joint venture with Valeo that makes powertrains for
electric cars. Orders, which are a key indicator for future earnings, fell 14 percent in the quarter from the year-ago quarter due to fewer big-ticket orders.
Siemens CEO Joe Kaeser was to provide more detail at a news conference Wednesday.
