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Siemens Issues Cautious 2021 Outlook as Pandemic Seen Waning

  • Firm expects industrial-sector recovery to trail GDP growth
  • Strong euro also weighing on engineering giant’s profits
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Siemens See 'Moderate' Profit Growth, CEO Kaeser Says
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Siemens AG forecast a slight increase in 2021 profit as the coronavirus pandemic wanes and the global economy returns to growth after a tough year for industrial companies.

Siemens predicted Thursday that net income will rise “moderately” from the 4.2 billion euros ($4.9 billion) generated in the 2020 fiscal year that ended Sept. 30. It proposed cutting its dividend.