Siemens raises full year outlook after 2nd quarter sales beat

Siemens (SIEGn.DE) raised its full year sales and profit guidance on Wednesday after the German engineering and technology group beat sales forecasts during its second quarter.

The maker of products ranging from trains and industrial software was in confident mood, boosted by its enormous order book which continued to expand, and a further easing supply chain bottlenecks.

Continued strong demand also helped its factory automation and smart buildings divisions to their highest ever quarterly profit, while the mobility business, which encompasses trains, rolling stock and transport systems, returned to profit after last year’s hit from the group’s withdrawal from Russia.

“We had a very successful first half-year,” Chief Executive Roland Busch told reporters.

“We now want to further leverage our exceptional order backlog and execution strength. This means that – despite a volatile environment – we’re very confident about the second half-year.”

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