FRANKFURT, May 8 (Reuters) - Power equipment maker Siemens Energy on Thursday said it expects a hit of less than 100 million euros ($113 million) to profits in the remainder of its fiscal year, quantifying for the first time the impact of broad U.S. import tariffs.
"For the second half of the fiscal year 2025, a limited direct impact on Siemens Energy's profit of up to a high double-digit million euro amount, after mitigation measures, is currently expected," the company said.
The company also said its net profit nearly rose five-fold to 501 million euros in its fiscal second quarter that ended in March, beating the 217 million average estimate in an LSEG poll of banks and brokerages.
The group last month released preliminary results for the January-March period in what was its best quarter since it was spun off from former parent Siemens AG in 2020.
($1 = 0.8814 euros)
Reporting by Christoph Steitz; Editing by Chizu Nomiyama
Source: Reuters