Siemens: 11% increased operating profits in the third quarter 2024

Elevated was the third quarter of 2024, better than analysts expected. In particular, Siemens’ operating profits increased by 11%, reaching 3 billion euros and surpassing analysts’ forecasts for 2.84 billion euros. At the same time, the company confirmed its forecasts for the financial year by the end of September and the increase in revenue is still expected at the lowest end of a range between 4% and 8%, when adjusted for currency fluctuations, acquisitions and divestments. In the third quarter of 2024 orders were reduced by 15%, but were better than expected at EUR 19.8 billion. Siemens said late Wednesday (7,8,2024) that it aims to speed up the transition to a technology-focused business, expanding its board to seven members from five.