reported Thursday net income of 535 million euros for the three months to June. This represented a drop of 53% from a year ago. Despite the challenging economic environment, Siemens also said that higher income taxes contributed to the drop in profit.Free cash flow jumped to 2.5 billion euros from 434 million euros a year ago.
"All units, but most notably Siemens Mobility, contributed to this substantial improvement," the German firm said in a statement about the 200% surge in cash flow. This was supported by the move to stop some operations, which yielded a positive free cash flow of 433 million euros and a series of asset management measures at Siemens Energy, it said.
For the remainder of the year, Siemens expects that the ongoing economic crisis as a result of the coronavirus pandemic will keep impacting its business. "Going forward there is some volatility associated with the probability that we will see a second wave," Kaeser said. However, the firm is still planning to complete the spin-off and public listing of Siemens Energy before the end of its fiscal year.
Ass kisser
The billionaire globalist oligarch mike bloomberg says the same thing for the same reason! They want a slice of their economy. The ruling class will stomp us to gain more wealth and power in China.
They have not. Their economy is teetering on the brink of depression. He is sucking up to CCP because he has substantial assets in Chy-Na!
They are a totalitarian society with cameras everywhere. People are coded green, yellow and red according to whether they are healthy or have Covid 19. They are tracked by cell phones using advanced facial recognition.
Maybe he is just sucking up to Chinese communists by his statement. $$$$ at risk for Siemens if Chinese get pissed
It was easy. They put in roadblocks internally and banned domestic flights so not much spread there while allowing international ones to everywhere ...
They spread the virus and while the world is fighting the pandemic, China is recovering very very quickly. Not envy, just suspicion.
Not China. is u Western tech giant ur doing much inside china by producing for cheaper labor & goods then selling time 1000% to ur home counties as Chinese Siemens/3M,GM,Tesla to Promote china GDP them send back billions of dollars u makes in USA/EU countries to China economy
They haven't recovered...
Live Free Or Die
There’s a lie
No shit
If you believe this I have a bridge for sale in Brooklyn.
Aaaaaaand tin foil hats—go!
Msm believing China. Any one would think they were Controlled oh wait they are. The journalist make the choice to be Controlled, most humans would refuse to endorse or be a part of the political hitjib on a voted for president.Worse still all they child trafficking they ignored.
Economy is based on the people. If people stay safe and healthy, the economy may recover fast; if you only focus on economy or just stock market, but not the people's health and safety, the economy will always go down eventually.
Of course, they created Covid, and they know everything about it. It’s unfortunate that the world has to suffer at the hands of the evil CCP. We should have listened to the Uyghurs, Tibetans and Cantonese about CCP genocide. They’ll kill us all to rule the world.
From the Trump virus.
This is a big joke!
China exported the virus, intentionally or not, therefore, recovers first. Nothing surprising. It fortells a fast recovery for the rest of the world.
Retarded. Trusting the data provided by CCP is wrong.
PERMABULLSHIT
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