MUNICH – Siemens reported revenues dipped slightly in the fourth quarter, falling less than 1% to €76.7 billion.

The net loss for the period was €1.06 billion.

The company’s electronics assembly systems (EAS) business recorded a loss of €29 million in the fourth quarter, up from a loss of €48 million in the prior-year period. Both periods under review include severance charges.

Siemens said divestment of the EAS business is expected to result in a material loss.

The EAS unit’s revenue is listed on the the company’s balance sheet under Other Operations, which reported sales of €107 million in the quarter. In its statement, Siemens said Other Operations (which will now be called Centrally Managed Portfolio Activities) consists of units intended for divestment or closure

• Prev
• Next