Alexa
  • Directory of Taiwan

Siemens to take $1.8 billion charge

Siemens to take $1.8 billion charge

Siemens AG says it will take a charge of up to (EURO)1.4 billion ($1.8 billion) in the current quarter to reflect revised growth prospects at its health care diagnostics business.
The industrial conglomerate said late Tuesday that the impairment charge will have no cash impact and won't affect its overall outlook for the full fiscal year, which ends on Sept. 30.
CEO Peter Loescher said that "due to long-term changes in the overall health care market, it became necessary to reassess growth expectations."
The health care sector's CEO, Hermann Requardt, said that "we haven't achieved our growth targets" but added that the company is now "resolutely tackling this challenge."
Siemens shares were up 0.4 percent at (EURO)79.68 in early Frankfurt trading Wednesday.


Updated : 2021-10-16 17:26 GMT+08:00