Siemens sales growth likely to be below guidance, CFO tells paper
"In terms of sales growth, the trend is not towards 4%, but towards 3%," Thomas told German newspaper Boersen-Zeitung.
Siemens is set to report lower-than-expected full-year sales growth, although profits will remain unaffected, and the company may still increase its dividend, according to Chief Financial Officer Ralf Thomas in an interview published on Friday.
"In terms of sales growth, the trend is moving from 4% towards 3%," Thomas told the German newspaper Boersen-Zeitung.
In its previous results on August 8, the German industrial group had projected full-year comparable revenue growth between 4% and 8%, with expectations leaning towards the lower end of that range.
Siemens is scheduled to release its full-year results on November 14.
Thomas emphasized that profitability remains "clearly at the level we announced." The company had previously forecast full-year earnings per share between 10.40 euros and 11.00 euros ($11.63 to $12.30).
Thomas also indicated that Siemens will "probably" increase its dividend.
(Conversion rate: $1 = 0.8940 euros)
