MUNICH--German industrial giant Siemens AG said second-quarter net profit was little changed from the year before, as lost income from discontinued operations weighed on otherwise robust profit margin growth at most of its industrial businesses. Net profit for the fiscal second-quarter ended March 31 was EUR1. The profit margin for the group's industrial businesses climbed to Profitability was also helped by a EUR million gain from pension plan amendments, the company said.
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At the consistently lucrative health care unit, which Siemens legally separated in and is preparing for a potential listing this year, profitability was driven by the advanced therapies business. The digital factory unit, which supplies factory automation equipment and industrial software, was boosted by demand at its high-margin, short-cycle businesses, particularly in China.
That division has taken center stage as Siemens seeks to be a leader in the Industrial Internet, which seeks to marry the Internet of Things with heavy industry.
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