Together with other industrial companies such as France’s Schneider Electric and Switzerland’s ABB, Siemens, which manufactures electrical equipment, benefits greatly from the growing demand for data centers providing data processing power for AI.
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Siemens now forecasts that its earnings per share – a key profitability indicator – will reach between 11.20 and 11.50 euros this year, compared to the February forecast range of 10.70–11.10 euros.
“We have once again completed a very successful quarter,” said Siemens CEO Roland Busch. “Our technological leadership in all business areas, clear focus on industrial artificial intelligence, and strong position in attractive markets drive our profitable growth.”
Siemens reported that net profit in the second quarter of this year increased by 15% compared to the same period last year, reaching 2.6 billion euros, while sales rose 8% to 20.8 billion euros.
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Profit grew most in Siemens’ Smart Infrastructure division, which supplies electrical equipment to data centers and other industrial customers, as well as in the Digital Industries division, which specializes in process automation software.
Meanwhile, order volumes – a future revenue indicator – reached a record 27.9 billion euros, 14% more than in the same period last year, bringing Siemens’ order backlog to 132 billion euros.
Order volumes in the Smart Infrastructure division, which is close to the AI field, grew by 42%.
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