Report
Delphine Brault

Siemens AG : Poursuite des chantiers en 2019. Nous restons en Neutre après le T4

>Un T4 légèrement sous nos attentes mais au-dessus du consensus - Le groupe a publié des chiffres entre en ligne et légèrement supérieurs aux attentes du consensus, tandis que nous étions environ 7% au-dessus des attentes du marché. Le T4 a été caractérisé par de lourdes charges de restructuration (527 M€) mais pas d’autres « one-off » notables. La croissance des commandes et du CA a été solide à +5% organiques, mais la marge opérationnelle a reculé de 20 pb à 9.3% (...
Underlying
Siemens AG

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

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