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Siemens CFO forecasts flat Q2 revenues, 10% decline, and reduced margins due to China's factory automation environment.
Siemens shares dropped to a one-year low following CFO Ralf Thomas' forecast of flat revenues for Q2 in the company's digital industries division.
Thomas also revealed a 10% decline in revenues compared to the previous year and reduced margins from 20% to 17%.
Thomas expressed concern over China's factory automation environment, predicting a prolonged destocking process until the end of the year.
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El director financiero de Siemens pronostica ingresos estables en el segundo trimestre, una caída del 10% y márgenes reducidos debido al entorno de automatización de fábricas en China.