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Siemens sees sharp rise in profits, beats forecast

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DPA

German engineering giant Siemens has closed its first year under the leadership of Roland Busch with a strong rise in profits. Earnings after taxes rose by 59 per cent to 6.7 billion euros (7.7 billion dollars), the company said on Thursday. This exceeded Siemens’ forecast, which had already been raised several times in the course of the financial year. It was also the first full year without its loss-making energy division Siemens Energy, which was floated on the stock exchange in autumn 2020 and in which Siemens now only holds a minority stake. Busch described the results as “a very successf…

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