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Profit from Siemens Portugal more than doubles in 2018 and totals 33.7 million

Siemens Portugal’s profit more than doubled in the tax year 2018 compared to 2017, increasing 120.6% to 33.7 million euros, boosted by the performance of the automation and industrial control areas, the company announced today.

In a statement, Siemens Portugal reports that, from October 2017 to the end of September 2018, it recorded year-on-year growth of 6.6% in sales, to 319 million euros.

Exports through shared service centres and centres of engineering and information technology skills increased by 4.6% to 122.8 million euros, with Siemens Portugal exported to a total of 56 countries.

According to the company, exports encompass areas such as IoT (Internet of Things), cloud applications, big data, data analysis, cybersecurity, finance, human resources and real estate, among others, and also the Corroios factory contributed to the exports of the Portuguese subsidiary by exporting 85% of the electrical panels it produced to countries such as Germany, Czech Republic, Netherlands, Switzerland, Bulgaria, Austria and Belgium.

“Overall, the company’s performance was successful across the board, particularly in the areas of automation and industrial control, smart grids and energy transition, and building technologies,” said Siemens Portugal CEO.

According to Pedro Pires de Miranda, the results of the tax year 2018 contributed to “the increase in exports, the performance of customers and the excellent performance of the technological solutions and services operating areas,” anticipating the next years “to continue the strategy of focusing on digitization, partnerships with customers, application laboratories, exports, growing international competence centers and strengthening the Lisbon Tech Hub.”

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