Siemens AG : Q1 slightly weak and disparate, but 2019 targets are confirmed
>Q1 earnings and FCF shy of expectations - Q1 posted an order intake of € 25.2bn, sales of € 20.1bn, industrial profit of € 2.068bn (margin of 10.2%) and net profit of € 1.118bn. Sales and earnings are 1-4% below the consensus, only the order intake topped expectations. FCF was negative to the tune of € 337m, which was an unpleasant surprise due to three divisions in particular. Siemens AG has nonetheless confirmed its full-year guidance, which should help absorb Q1. ...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.
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.
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