Europe's biggest industrial group Siemens said it expects a double-digit rise in earnings for its current fiscal year provided that markets pick up for some of its key businesses.
The trains-to-turbines group is the first of its peers to give an outlook for the year ahead.
It forecast today a moderate full-year rise in revenue after beating expectations for fourth-quarter profit.
"Siemens anticipates further softening in the macroeconomic environment and continuing complexity in the geopolitical environment in 2016," it said in a statement today.
"This outlook assumes that momentum in the market environment for Siemens' high-margin short-cycle businesses will pick up in the second half of fiscal 2016," it added.
Siemens said basic earnings per share should rise by at least 14% on a comparable basis to €5.90 to €6.20.
Earnings per share for the year to the end of September was boosted by the disposals of Siemens' hearing aids and household appliance businesses.
The company exceeded its industrial profit margin target of 10-11 % with a result of 11.3% in its fourth quarter to the end of September, and renewed the goal for the current year.
