Siemens 2Q Net Profit Jumps, Boosted by Flender Sale and Industrial Businesses — Update

Provided by
Dow Jones
--Siemens's net profit surpasses company-provided consensus
--China made a significant contribution to revenue growth
--The German engineering conglomerate raises guidance for its fiscal year
By Mauro Orru
Siemens AG said Friday that net profit for the second quarter of fiscal 2021 rose thanks to the performance of its industrial businesses and the sale of its mechanical-drives business Flender. China made a significant contribution to revenue growth.
The German engineering conglomerate said net profit for the quarter ended March 31 climbed to 2.27 billion euros ($2.74 billion) from EUR652 million a year earlier.
Siemens closed the sale of its Flender business to investment company Carlyle Group Inc. in March, booking a gain of EUR900 million.

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