Report
Delphine Brault

Siemens AG : Un T1 sans grand relief en perspective (5 février)

>Marges et résultats attendus en recul - Nous attendons une marge opérationnelle de 8.9% (-130 pb) et un RN de 972 M€, en baisse de 13% (cf ci-dessous). Les commandes devraient être en recul de 11% mais satisfaisantes en valeur à 22.2 Md€ (consensus 22.8 Md€) grâce aux divisions SHL et SGRE, aboutissant à un book-to-bill de 1.08x. Nous anticipons un CA de 20.7 Md€ (consensus à 20.6 Md€), incluant DI et SI en baisse, GP et SGRE en hausse significative. Les résultats de...
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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