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Siemens Sees Some Industry Units Improving, Euro am Sonntag Says

Siemens AG (SIE) Chief Financial Officer Joe Kaeser said that some of the German company’s industrial businesses are performing better than last year, Euro am Sonntag reported, citing an interview.

Concerns at the start of the fiscal year that weakening European and Chinese economies would damage shorter-cycle businesses such as industry automation or parts of the drive technologies unit didn’t materialize, Kaeser said, according to the German newspaper. Business has stabilized at “a high level,” he told Euro am Sonntag.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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