Siemens' first quarter orders surge - sending shares up

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Orders surged 52%, the maker of trains and factory software said, as customers stocked up to make sure they got enough equipment and demand increased after the pandemic slowdown.

"We've seen an unprecedented boom," CEO Roland Busch told reporters. The company's shares gained 6.4% in early trading.

This had led to massive pre-ordering by customers desperate to get their hands on electrical and automation products. Revenue and profit both benefited from the orders surge which was particularly strong in China, Germany and Italy.

 

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