FRANKFURT (dpa-AFX) - The technology company Siemens is sticking to its targets for the current fiscal year. "I am not at all worried about the Group's forecast for the year," CFO Ralf Thomas told the "Borsen-Zeitung" (Tuesday edition). "We will achieve our targets". According to earlier statements, Siemens expects sales growth on a comparable basis of four to eight percent and an increase in adjusted earnings per share from 9.93 euros to 10.40 to 11.00 euros.

According to Thomas, business is proceeding differently than expected. "Perhaps the Siemens profitability mix at the end of the fiscal year looks a little different than we expected at the beginning of the year." Overall, the Group is doing well, but there are differences between the individual businesses. The manager reiterated statements made on March 19 that the automation business is currently facing a strong wind. "This is even more intense than we expected before Christmas," said Thomas.

Given the lack of interest rate cuts, the reluctance of capital goods customers is understandable. The euro, which has strengthened against the renminbi and US dollar since the lows of 2022, is also a burden. "This change in the exchange rate does not make things any easier for export-oriented countries," said the manager.

At the same time, however, there is a tailwind in many areas of the company. For example, demand for data centers remains extremely strong. In addition, the transition to alternative energies requires investments in many areas of electrification and building technology.

Thomas does not see any gaps that urgently need to be closed by acquisitions. However, the Group is also financially capable of acting at any time if it has the opportunity to strengthen itself substantially with a combination of hardware and software as well as data-oriented sustainability strategies.