World Print edition: 2020-05-09

Siemens drops revenue target

Published May 9, 2020 Updated May 8, 2020 10:30pm

1 min

By BR Web Desk Recorder Report

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"We expect a moderate decline in comparable revenue in fiscal year 2020," Siemens said in a statement, as it reported net profits down by an annualised 64 percent in January-March, at 697 million euros ($755.77 million).

The group plans to find 165 million euros of extra savings per year on top of an existing cost-cutting drive, bringing its total target to 475 million.

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