Siemens reported global solid results. In 3Q06, its FY 4Q, Siemens announced sales of almost €24bn, up 8%, orders up 4% to €22.6bn and group operating income from operations increased 35% to €640m. For its fiscal year, ended in Sept., Siemens reported a net income of €3.1bn, up 38%, group profit from operations increasing 12% to €5.3bn, while sales rose 16% to €87.3bn and orders grew 15% to €96.3bn.
For what interest us the most, its Com division reported sales up 7% to €13.1bn in fiscal year; orders were up 5% to €13.6bn and group profit was €283m, down 33%. Sales were made of €9.8bn (+11%) in the carrier segment and €3.3bn in the Enterprise segment (down 3%). The carrier segment is profitable while the Enterprise segment is in the red. In 3Q06, Comm reported sales of €3.7bn, up 6%, orders were 1% higher to €3.3bn, and loss of €82m.
Siemens is continuing to rigorously implement its Fit4More program to cut costs and improve margins.