Siemens Energy Swung to 4Q Loss; Backs 2021 Outlook
November 10 2020 - 1:50AM
Dow Jones News
By Giulia Petroni
Siemens Energy AG said Tuesday that it swung to a loss for the
fourth quarter of the year, but confirmed its fiscal 2021
guidance.
The German energy company reported a net loss of 390 million
euros ($460.8 million) compared with a profit of EUR79 million for
the previous-year period.
Revenue fell 8% on year to EUR7.63 billion, while orders
decreased 24% on year to EUR6.99 billion mainly due to postponed
orders in the gas and power segment during the coronavirus
pandemic, the company said.
Siemens Energy said it was able to achieve its goals for fiscal
2020 in spite of a challenging market environment, and confirmed
its guidance for fiscal 2021. This includes a nominal revenue
performance of between 2% and 12% and an adjusted earnings before
interest, taxes and amortization margin between 3% and 5% before
special items.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 10, 2020 01:35 ET (06:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Siemens Energy (TG:ENR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Siemens Energy (TG:ENR)
Historical Stock Chart
From Sep 2023 to Sep 2024