• Siemens sees slump in fossil-fuel power generation

    10 monthes ago - By Chron

    FRANKFURT, Germany - Industrial equipment maker Siemens saw profit rise in the first three months of the year as the company booked a one-time gain related to pensions while profits from its factory digitalization business helped offset sagging results from fossil fuel power generation.
    Net profit rose 39 percent to 2.02 billion euros from 1.45 billion euros in the year-earlier quarter, the company's fiscal second.
    Revenue was flat at 20.1 billion euros after exchange rate shifts took 6 percent off. Orders slipped 2 percent to 22.3 billion euros.
    Profit slumped 74 percent at the power and...
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