Siemens AG’s information and communications networks operation has reported revenue for the year down 25% at E9.6 billion and a loss at the EBIT level of E691 million, down from E861 million.
The fact that orders dropped by 31% to E8.69 billion in the fourth quarter suggests that more cut-backs may be on the way, with sales down 39% and orders sliding by 38%.
However, the information and communications mobile operation reported earnings for the year at the EBIT level of E82 million, up from a loss of E540 million on revenue down 2% at E11 billion. Sales of handsets rose 13% to 7.8 million. In the quarter, revenue fell 12.5% to E2.68 billion while orders fell 15.4% to E2.5 billion.
Siemens Business Services, the group’s IT services division made a profit before interest and tax of E101 million in fiscal 2002 compared to a comparable loss of E259 million in the previous year. Revenue fell 4% to E5.8 billion with new orders remaining flat at E6.3 billion.
In the fourth quarter, SBS made a pre-interest and tax profit of E26 million compared to a loss of E304 million in the year-ago quarter when the company was hit by severance charges and contract loss provisions. Sales in the fourth quarter fell 9% to E1.48 billion with orders down 5% at E1.5 billion.