MUNICH: Siemens AG posted strong second-quarter profit and outlined a plan to list its struggling power and gas division, a watershed moment in chief executive officer Joe Kaeser’s drive to dismantle the company’s cumbersome conglomerate structure.
The shares surged the most in a year after the German company said adjusted earnings before interest, taxes and amortisation from its main industrial business rose 7% to €2.41bil (RM11.2bil). That beat an average analyst estimate of €2.23bil compiled by Bloomberg. Order growth at the healthcare Healthineers unit and strong returns at the digital factory division, which supplies plant-automation services, helped drive profits.
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