Siemens Forecasts Growth Rate Will ‘Ease’ in the Second Half
This article is for subscribers only.
Siemens AG, Europe’s largest engineering company, anticipated growth will slow in the second half and said earnings in the quarter that just ended were burdened by a “disappointing” renewable energy division.
“We expect the growth rate to ease,” Chief Financial Officer Joe Kaeser said on a call with analysts today. Siemens, which reports under a fiscal year that ends on Sept. 30, 2011, fell as much as 2.9 percent in Frankfurt, the most in 20 days.