SIEGY - Siemens pumped up to start 2021 raises guidance

Siemens (SIEGY) FQ1 revenue rose 3% to €14.07B, and was  also up in all four industrial businesses; on a geographic basis, with most notable growth in China and Germany.Bifurcating revenue segment-wise: Digital Industries €3.77B; Smart Infrastructure €3.48B; Mobility €2.19B; Healthineers €3.89B; Portfolio Companies €649M.Orders surged 11% on a comparable basis to €15.94B.Adjusted EBITA for Industrial Businesses jumped 39% to €2.1B, resulting in margin of 16.0%.Net income rose substantially to €1.5B; corresponding EPS of €1.72.Strong Free cash flow from continuing and discontinued operations of €1B, compares to Q1 FY 2020 figure €44M.Outlook: Adjusted EBITA margin raised to 19-20%, 2%. Smart Infrastructure continues to expect to achieve moderate comparable revenue growth in fiscal 2021. The expectation for Adjusted EBITA margin is now 10.5% to 11.5%, 0.5% higher; net income to the range from €5B- 5.5B, well above the previous expectation of only moderate growth compared to €4.2B in fiscal 2020.Previously: Siemens reports Q1 results (Feb. 3)

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Siemens pumped up to start 2021, raises guidance