Motilal Oswal: Siemens Posts Strong Q4 Operational Performance, Order Inflows Surprise
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Motilal Oswal Report
Siemens Ltd.’s Q4 FY20 performance was above expectations, with a 7% beat on the topline and 54% on operating profit versus our estimates. This clearly indicates faster-than-anticipated demand recovery.
A favourable mix of the services business, the execution of high-margin orders, and the sustenance of cost-cutting measures during the lockdown were some of the key parameters that led to higher operating profitability and margin expansion.
With order inflows up 9% YoY in Q4 FY20, management highlighted green shoots in end markets such as pharmaceuticals, food and beverages, and power transmission and distribution.
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