MUNICH, Germany (Reuters) - Siemens, Europe's biggest industrial group, raised its full-year earnings-per-share forecast on Monday after beating market expectations for first-quarter industrial profit, revenue and orders.
The Munich-based trains-to-turbines group said it now expected EPS of 6.00 to 6.40 euros ($6.50 to $6.93), up from its previous forecast of 5.90 to 6.20 euros for the year ending next September.
"We delivered a strong quarter and are well underway in executing our Vision 2020. Therefore, we will raise our earnings outlook for 2016, even though the macroeconomic and geopolitical developments remain a concern for our markets," Chief Executive Joe Kaeser said in a statement.
The closely-watched profit margin from Siemens' industrial businesses rose to 10.4 percent from 10.2 percent a year earlier. Excluding severance costs, the margin was 10.7 percent.
Industrial profit jumped 10 percent to 1.99 billion euros, easily beating the Reuters poll average of 1.87 billion euros thanks to strong increases in healthcare, energy management and mobility, Siemens said.
Those outweighed declines in the Digital Factory, Process Industries and Drives and Wind Power and Renewables units.
($1 = 0.9237 euros)
(Reporting by Georgina Prodhan; Editing by Edward Taylor, Greg Mahlich)
