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Siemens Mobility suffered a 36% drop in orders to €1.83bn during the fourth quarter of 2019 despite rolling stock orders amounting to €600m from Germany and €400m from Austria. Nevertheless, revenue increased by 4% to €2.5bn which Siemens says was “driven by double-digit increases in the rolling stock business, which ramped up large projects, and in the customer services business.”
“The weakening of the global economy clearly accelerated during fiscal 2019,” says Mr Joe Kaeser, president and CEO of Siemens, commenting on the performance of Siemens as a whole.
The post Siemens Mobility reports strong order intake but flat revenue for 2019 appeared first on International Railway Journal.
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