BERLIN: German engineering giant Siemens on Thursday trimmed its full-year targets as it posted mixed second quarter numbers.
"Results for the second quarter show a mixed picture," chief executive Peter Loescher said in a statement.
"While we were able to clearly increase orders, we still have challenges regarding revenue and profit," he said.
Siemens, which runs its business year from October to September, said that orders rose by 20 percent to 21.451 billion euros in the period from January to March. But revenues were down 7.0 percent at 18.011 billion euros.
Net profit grew by 10 percent to 1.03 billion euros, falling short of analysts' expectations.
Looking ahead, Siemens said it was pencilling in around 900 million euros in restructuring charges so that its operating profit would come in at around 4.5 billion euros, the bottom of its forecast range of 4.5-5.0 billion euros.
Full-year revenues were projected to decline, but orders would rise "moderately," Siemens said.
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