BERLIN (dpa-AFX) - Siemens AG (SIEGY.PK, SMAWF), a German technology company, on Thursday reported a rise in net profit and revenue for third-quarter.
Roland Busch, CEO of Siemens AG, said: 'We grew profitably in the third quarter, continuing to benefit from the high demand in electrification. Another growth driver was our particularly strong industrial software business, which won several large license contracts. The industrial automation business remains challenging. We confirm our company's full-year outlook.'
For the three-month period, the company recorded a net income of 2.1 billion euros, higher than 1.4 billion euros for the same period last year.
Earnings from Digital Industries rose 3 percent, year-on-year to 1.1 billion euros.
Smart Infrastructure recorded profit to 923 million euros, up 20 percent from previous year.
Profit from Industrial Business stood at 3 billion euros, higher than last year's 2.7 billion euros, with contributions from all industrial businesses.
Orders, however, slipped to 19.8 billion euros from previous year's 23.5 billion euros.
Revenue improved to 18.9 billion euros from 18.1 billion euros a year ago, with higher order volumes at most industrial businesses, including double-digit percentage increases at Digital Industries and Smart Infrastructure.
Looking ahead, for the full year, excluding currency translation and portfolio effects, the Group has confirmed its outlook for a revenue growth of 4 percent to 8 percent.
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