Siemens energy management business saw orders drop 20% in the second quarter of the 2018 financial year to €2834m from €3558m in the same period of 2017.
The drop was down to lower volume for large orders, the company said.
Revenue was fairly static at €2958m between January and March, compared with €2992m last year.
Transmission, medium and low voltage business increased but was offset by negative currency effects.
However, the business segment’s profit increased to €260m up 16% from €224m in 2017.
Overall, Siemens saw orders drop 2% to €22,318m in the second quarter from €22,746m in 2017.
Revenue was steady at €20,141m in the period, compared with €20,135m last year.
Profit was down 8% to €2245m from €2458m, impacted by declines in the power and gas business unit, Siemens said.
Image: Siemens
Orders fall at Siemens grids
By EBS