Report
Delphine Brault

Siemens AG : 2020 guidance as expected. Our SOP rises from € 98 to € 102

>Better-than-expected Q4 results, 2020 guidance in line - Order intake in Q4 reached € 24.7bn, sales came to € 24.5bn, industrial profit was € 2,641m (10.8% margin) and net profit € 1,470m. These figures were well above the consensus (€ 2,329m industrial profit and € 1,151m net profit) thanks to a very satisfactory quarter for Digital Industries (DI) and lower-than-expected corporate charges. FCF was strong (€ 5.3bn) and made up for the disappointing nine months; ROC...
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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