Contracting Large Gas Turbine Markets and Wind Price Pressure Depress Siemens' Profitability in 4Q
Narrow-moat Siemens closed out its fourth quarter with strong order growth of 16% versus the prior year, and decent revenue growth of 1% (in line with our expectations but below market expectations). However, the industrial business' profit margin decreased 120 basis points year on year as strong improvements in energy management, building technology, process industries and drives, and healthcare were more than offset by declines in power and gas, digital factory, and renewable energy. Profit de...Siemens is a technology company. Co.'s Energy sector provides a range of products, solutions and services for generating and transmitting power. The Healthcare sector provides customers a range of medical solutions across the treatment chain. The Industry sector supplies products and solutions for industrial companies, primarily in the process and manufacturing industries. The Infrastructure & Cities sector provides a range of technologies that accelerates the capabilities of metropolitan centers and urban infrastructures. The Investments segment is comprised of Co.'s equity stakes in other companies. The Financial Services segment provides business-to-business financial solutions.
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