Russian write-downs steal the show, FY22 outlook confirmed
-"Siemens’ Q2 results were a mixed bag with orders above consensus, revenues largely in line and profitability missing estimates. The latter resulted from write-downs in Russia, following the ..."
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Following a guidance cut by the company, we have reduced our revenues and EBITDA margin estimates. While the revenue downgrade to €5.2-5.7bn from ...
FY21/22 figures in-line with expectations – Cost inflation will limit margin improvement in FY22/23 – New TP of EUR 2.40
Supply chain issues and inflation cloud outlook
For FY21, the decrease in EPS is due to €451m of Alstom’s share in net loss from TMH Limited, the Russian locomotives and rail equipment provider, in ...