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Siemens sees favourable market environment next year

Siemens sees favourable market environment next year
FILE PHOTO: The Siemens logo is seen on a building in Siemensstadt in Berlin, Germany, October 31, 2018. REUTERS/Hannibal Hanschke/File Photo   -   Copyright  Hannibal Hanschke(Reuters)
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ZURICH (Reuters) – Siemens <SIEGn.DE> said it expects a continued favourable market environment with limited risks related to geopolitical uncertainties as the German engineering group on Thursday reported industrial profit in line with expectations.

The trains-to-turbines maker said it wanted to raise its dividend and launch a new 3 billion euros ($3.43 billion) share buyback after reporting flat industrial profit of 2.145 billion euros during its fiscal fourth quarter.

The company’s net profit fell 46 percent to 681 million euros during the three months ended Sept. 30, better than the 595 million euros expected by analysts polled by Reuters.

The figure was hit by 301 million euros in restructuring charges Siemens incurred from job cuts at its troubled Power and Gas business.

(Reporting by John Revill; Editing by Maria Sheahan)

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