Industrial strength boosts Siemens: strong performances from traditional divisions drive up sales and profits

Engineer, The, November, 2004

ENGINEERING and technology giant Siemens ended 2004 in robust shape--thanks to strong performances from some of its traditional industrial divisions.

The German group, which employs about 18,000 people in the UK, said its operations in areas such as automation and drives had delivered solid growth, offsetting problems in its mobile phones and transportation businesses.

Siemens' operating profit for the year to September came in a whisker under [euro]5bn ([pounds sterling]3.5bn), a rise of 16 per cent on its 2003 level. Sales were three per cent higher at [euro]75.1bn.

Chief executive Heinrich von Pierer said 10 out of 13 operational divisions within Siemens had increased profits this year, with the 'lion's share' of group earnings coming from...