Under the pressure of economic crisis, profit of Royal Philips Electronics (RoyalPhilipsElectronicsNVNL-PHIA) has decreased by 45%, while Siemens (SiemensAGDE-SIE) has warned it is more difficult to get its compliance.Philips said today that at fourth quarter of 2011 earnings before interest, taxes, amortization (Ebita) fell to 500 million euros (6.4 billion U.S. dollars), while last year there were 913 million euros.The Chief Financial Officer of Siemens, Kaiser (Joe Kaeser) revealed with the "Wall Street Journal" (WallStreetJournal) that he is "very ambitious" with profit forecast in 2012,and this pressure began to be increased from last November.Due to weak demand of European health care and lighting equipment, the world's largest light bulb manufacturer ,Philips's profit performance is far from than analysts' estimates, the price of share drops most in nearly five months.As the revenue growth is weakening, coupled with the global economy led to industrial equipment needs cooling down, Siemens forecasted in November in last year profit for this year will be stagnant. |
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Philips And Siemens Reduce revenue growth Due To Weak Demand