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Siemens (SI) confirms it won't meet its full-year targets following a series of write-downs on a...

Siemens (SI) confirms it won't meet its full-year targets following a series of write-downs on a major offshore wind project and its JV with Nokia, and can't rule out further writedowns at the wind power ops. FQ2 profit of €981M is below consensus. FY profit guidance lowered to €5.2B-5.4B from €6B.

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Comments (1)
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    You forgot the 67% Quarterly loss just reported on BLOOMBERG by Caroline Hyde. Linzie Janis had CEO Peter Loescher live on BLOOMBERG TV this morning at 7:45 AM. He claimed they were "over ambitious" and they "MUST learn as they go", what kind of risk assessment is that? Sounds like "shooting in the darK" to me.

     

    After tax yearly profits to drop 1 BIL Euros, that's 25% of their yearly profit totals.

     

    Loescher had this last year with Q2-Q3 profits down over 60%, and a MASSIVE loss of 98% in the Medical Solutions segment.

     

    BIG trouble for Gemany's "strongest & largest" company. Shares are up slightly on the bad news as investors scramble to drive price higher before the dumping begins as we saw last year Q2 on Q3.

     

    DISCLAIMER: You couldn't force me to buy shares in SIE.
    25 Apr 2012, 06:48 AM Reply Like
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