Siemens CEO Joe Kaeser. (picture alliance/dpa)
German industrial manufacturing giant Siemens sees geopolitical clouds on the horizon, despite a general willingness to invest, chief executive Joe Kaeser said from company headquarters in Munich on Thursday.
Corporate profits declined marginally in the third financial quarter to 1 billion euros (1.1 billion dollars) from 1.1 billion euros in the same period of last year.
Despite the ongoing trade conflict between the United States and China, Siemens saw turnover for the quarter rise by 4 per cent to 21.3 billion euros on the back of its listed subsidiaries Siemens Gamesa and Siemens Healthineers.
The corporation, which is undergoing a radical restructuring away from power generation toward the digital economy, largely confirmed its predictions for the current year, with turnover and operating profit set to rise moderately.
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