Net profit group Siemens, which produces a wide range of products from trains, gas and wind turbines to medical equipment reached 1.37 billion euros in the third financial quarter, which is almost unchanged from last year's results.
Operating profit jumped by 41% to 2.67 billion euros thanks to revenues of 19.8 billion euros, which is 5% more than in the same period last year.
– Siemens has achieved incredible results in a very difficult situation in the market – said CEO of Joe Kezer, warning at the same time the possibility of deteriorating market conditions, referring to the decision of Britain to leave the EU, terrorism and strained relations between Turkey and the EU.
These things, he added, create uncertainty, which causes hesitation which results in a difficult investment climate and lower fuel consumption. Such risks would, he said, could threaten parts of the business in the coming financial 2016/2017.
However, in the April-June quarter, the value of Siemens order books rose to 21 billion euros, which is 6% more than in the same period last year and the result is a strong demand for renewable energy strong>.
German industrial giant increased its annual assessment of profits, after strong demand for renewable energy in the second quarter.