FILE PHOTO: The logo of German industrial group Siemens is seen in Zurich, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – Siemens (SIEGn.DE) expects “even stronger impacts” from the coronavirus pandemic in the weeks ahead, it said on Friday as it ditched its 2020 guidance and posted an 18% drop in industrial profit during its second quarter.
The trains to industrial software maker said it now expected a “moderate decline” in comparable full year revenue. Siemens had previously predicted moderate growth.
Its flagship factory automation unit and smart infrastructure business would be the hardest hit, the company