The German industrial group raised its fiscal-year revenue growth and margin targets for the division after large U.S. and European data-center orders supported third-quarter profit and bookings.
Siemens raised its fiscal-year outlook for its smart infrastructure division after securing several large contracts from data-center customers in the U.S. and Europe, a development that helped lift third-quarter profit and orders. The company now expects comparable revenue growth for the unit of 10% to 11%, up from its earlier guidance of 8% to 10%. It also increased its profit-margin forecast to 18.5% to 19.5%, compared with the previous 18% to 19% range. The revision points to stronger demand from data-center operators, an area that has become increasingly important for industrial suppliers tied to power systems, electrification and building technology.