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Siemens sees infrastructure business reaching margin target

28
Nov
2013

expects its Infrastructure Cities (IC) business, which has been hit by project delays and restructuring, to reach its profitability target this financial year, it said on Wednesday. There has been speculation, brushed off by Siemens new chief executive Joe Kaeser, that the group might dismantle the IC business after its performance fell well short of expectations. In the financial year ended September 30, the business posted a margin on earnings before interest, tax, depreciation and amortization (EBITDA) of 3.7 percent, well below a target range of 8-12 percent. That made it the least profitable of Siemens four main businesses, behind Industry, Energy and Healthcare.

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