Siemens Expects Moderate Growth Next Year [The New York Times]
GE Aerospace (GE)
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Source: The New York Times
Siemens, the German conglomerate, bucked the trend of boardroom caution when it said on Thursday that it expected to shrug off global geopolitical tensions and notch “moderate” sales growth next year. Joe Kaeser, chief executive of Siemens, described the company’s guidance as “courageous,” saying it saw only limited risks and expected to increase sales 3 to 5 percent during its 2019 fiscal year, which began on Oct. 1. Shares of the industrial manufacturer rose 1.1 percent in early trading, bolstered by a new share buyback of 3 billion euros, or $3.43 billion. “If everybody is concerned, there has to be somebody who brings hope and shows people the way,” Mr. Kaeser said. Many companies have voiced worries about slowing growth as trade tension between the United States and China mounts and economies in many countries ebb. Siemens’s chief financial officer, Ralf P. Thomas, told analysts on an earnings call that Siemens had good visibility for the first six months of its bu
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