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Friday, November 12, 2010

Siemens narrows loss and boosts dividends

The German industrial giant announced its net loss for final quarter of 2010, which was 65 per cent lower than the same period last year. As an industrial giant established since 1847, its performance is considered as economic barometer. 

The net loss of the fourth quarter is 396 million euros, 65 per cent lower than the 1.06 billion euros net loss last year. The basic loss per share is down from 1.31 euros to 0.54euro this year.
This year is also the first rise in dividends of the company since 2007, which will increase from 1.60 euros to 2.7 euros per share.

For the full year, net income of the company has climbed 63 per cent to 4 billion euros.
Energy sector was the sector with the fastest growth in new orders, which produces products and carries out research and development for power generators.

The company are generating more and more income from the emerging market, there is revenue growth from China and India, 25 per cent and 15 per cent respectively. 

”Siemens is no longer a restructuring story,”

”We are a normal company and a growth company. You should expect continuity from us.” Siemens AG Chief Executive Officer Peter Loescher said. The sales of fourth quarter increased 7.7 per cent to 21.23 billion euros. The high-speed trains, power turbines and factory automation equipment maker predicted a moderate revenue growth for the coming year.” 

The payout is a strong signal that Siemens will outgrow rivals and build up its presence in emerging markets, which generate a third of its business,” Loescher told Bloomberg.

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