Siemens raises guidance on digital industries recovery

Siemens raised its full-year guidance for earnings per share on Wednesday, citing a stronger-than-expected recovery in its Digital Industries division.

Orders in the division rose 9% on a comparable basis, the second consecutive quarter of growth after more than a year of destocking. Smart Infrastructure continued to benefit from data-centre electrification demand.

The shares rose 4.1% on Xetra by mid-afternoon local time. Chief Financial Officer Ralf Thomas said the company remained "cautious on the pace of recovery" in automotive end markets.