Report
Delphine Brault

Siemens AG : Siemens is actively fighting against the crisis. The spin-off of the energy division is continuing

>Q2 impacted by COVID-19 but Q3 to be worse - The group reported an organic decline in orders of -9% and a drop in revenues (€ 14.2bn) of -1%. The figures now no longer include the energy business (GP, SGRE). The operating margin (12.1%) is down 10bp in reported terms and by 240bp l-f-l: it contracted by 230bp in digital industries (15.9%, revenues down by -10% and very unfavourable mix) and 510bp in smart infrastructure (5.2% including € 103m of severance charges), a...
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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