.jpg)
1 hour ago
2
Article content
(Bloomberg) — Siemens AG will repurchase as much as €6 billion ($7 billion) of shares after orders across the company’s key divisions climbed against a demanding environment.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The buyback will extend over a period of up to five years, Siemens said Wednesday. The move suggests the German engineering company is confident in its cash generation even as it pointed to a “very demanding” geopolitical backdrop.
Article content
Article content
Orders rose 11% during the second quarter, led by demand for software and smart building infrastructure, while the company’s profit declined, slightly missing expectations.
Article content
Article content
Germany’s most valuable firm, which makes everything from trains to factory software and controls, has been pushing further into automation and artificial intelligence for the shop floor. The Munich-based firm, which partners with the likes of Nvidia Corp introduced an agentic AI capable of independently writing code for machines at the Hanover trade fair in April.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Orders related to data centers grew by a triple digit amount, Siemens said Wednesday. The company left its overall outlook unchanged, while raising its forecast for revenue and profit margin for the digital industries division that makes factory automation software. Its smart infrastructure division raised expectations for revenue, while the company cut the revenue outlook for its mobility unit, citing US tariffs.
Article content
Under Chief Executive Officer Roland Busch, the firm has continued its push into software through the acquisitions of Dotmatics and Altair for a combined $15 billion, while also divesting businesses such as Siemens Energy and Siemens Healthineers. Last month, the company said it would let shareholders vote on the sale of its remaining stake in the medical equipment maker — where it still holds a majority — at the next annual general meeting in February 2027.
Article content
Advertisement 1
English (US)