Berlin: Europe's biggest industrial group Siemens expects a double-digit rise in earnings for its current fiscal year provided that markets pick up for some of its key businesses.
The trains-to-turbines group, which is the first of its peers to give an outlook for the year ahead, forecast a moderate full-year rise in revenue and a book-to-bill ratio above 1 after beating expectations for fourth-quarter profit.
"Siemens anticipates further softening in the macroeconomic environment and continuing complexity in the geopolitical environment in 2016," it said in a statement on Thursday.
"This outlook assumes that momentum in the market environment for Siemens' high-margin short-cycle businesses will pick up in the second half of fiscal 2016."
Siemens said basic earnings per share should rise by at least 14 percent on a comparable basis to 5.90 to 6.20 euros. EPS for the year to end-September was boosted by the disposals of Siemens' hearing aids and household appliance businesses.
The company exceeded its industrial profit margin target of 10-11 per cent with a result of 11.3 per cent in its fourth quarter to the end of September, and renewed the goal for the current year on Thursday.
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