Siemens earnings slip on lower demand from auto industry

FRANKFURT — Industrial equipment and technology company Siemens says net profit slipped 6% in the company’s most recent quarter as weaker demand for factory automation from the auto and machine-building sectors hit profits.The company said Thursday that net profit eased to 1.134 billion euros ($1.252 billion) in the April-June quarter, the company’s fiscal third, from the year-earlier period. Revenue rose 4% to 21.27 billion euros.The company’s order backlog — a key determiner of future earnings — hit a record high of 144 billion euros led by sharp growth in the company’s renewable energy business, which took in two orders for offshore wind farms in Taiwan totalling 2.3 billion euros, and by a 1.2 billion euro order for high-speed trains and maintenance in Russia.The Associated Press read more

Motor industry facts at your fingertips

Motor industry Facts 2008 can be downloaded here. DownloadClick to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) Taking key facts from leading SMMT publications, this gives an overview of the environmental performance of the automotive sector. It is also packed with car and commercial vehicle registration and production data, as well as highlighting key safety issues. The core data provided is from SMMT’s Data Services team. They’re the people who process the numbers every month to provide accurate and timely data for the monthly releases on car and commercial vehicle registrations. And, to whet your appetite for Motor Industry Facts 2008 here’s some of the information you can find on its pages:* Registrations of alternatively fuelled vehicles nearly doubled in 2007 compared to the previous year.* The number of new car registrations in VED band C (121-150g/km) increased to 32.7% in 2007 compared to just 7.8% in 1997.* One in three cars registered in 2007 was from the supermini sector.* There are 4,247,958 commercial vehicles on UK roads. “For more than three decades, the dedicated data department has supplied a range of authoritative reports and publications acknowledged as the most comprehensive, reliable and accurate source of automotive information in the industry,” said Paul Everitt SMMT chief executive. “The society is not only a source for people to find vehicle data though as each department has a wealth of knowledge about industry issues. We’re ready and willing to provide comment on a variety of topics.” Where would the discerning investigative journalist be likely to go for facts and figures about the motor industry? The Society of Motor Manufacturers and Traders of course! As the voice of the motor industry, SMMT provides comment about environmental and other key issues and the latest edition of Motor Industry Facts will give you sector information at your fingertips. read more