Siemens Sectors See Record Profit
Renewable Energy division posted nearly EUR2.3 billion in orders in Q3.


July 29, 2010 /24-7PressRelease/ -- Fueled in part by its Renewable Energy division, German engineering conglomerate Siemens continued its march out of the recession with EUR21 billion in orders from Q3 2010 and a record profit of slightly over EUR2.3 billion from its sectors, the company reported.

Siemens said all three of its Sectors (Energy, Industry and Healthcare) showed profit increases compared to the prior-year period. Energy remained the top earnings contributor led by the Fossil Power Generation Division. However, the Renewable Energy Division posted orders worth nearly EUR2.3 billion, the highest order level of all the company's 14 Divisions.

Industry produced high double-digit profit growth, due mainly to recovery of its short-cycle businesses as well as tight cost management. Steadily recovering short-cycle businesses posted strong revenue growth, led by Industry Automation and Osram. Revenue for the overall Sector rose seven percent compared to the prior-year period.

Healthcare also posted high double-digit profit growth. Orders at Healthcare climbed 18 percent in the third quarter.

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