Report
Delphine Brault

Siemens AG : Q1 publication set to be lacklustre (Wednesday 30)

>Margins and earnings expected to be down - We forecast an operating margin of 10.7% (-40bp) and net profit of € 1,133m, down 49% (see below). Order intake should be satisfactory at € 22.2bn (consensus € 23.8bn) thanks to the PG, EM, MO and SHL divisions, leading to a book-to-bill of 1.09x. We forecast sales of € 20.4bn (consensus also at € 20.4bn) including a decline at PG and PD, and a significant increase at MO, DF and SGRE. Results at the PG and PD division are ex...
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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