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Siemens posts strong Q1 but cuts forecast

The German industrial group Siemens on Wednesday lowered its full-year operating profit forecast by 17.5 percent even as it presented strong quarterly results.

Published: 29 April 2009 11:49 CEST

Siemens said it expected a full-year operating profit of more than €6.6 billion ($8.7 billion) in core activities, compared with a previous forecast of more than €8 billion.

The group’s “Total Sectors” report presented operating profit and sales for the second quarter of Siemens’ fiscal year, which begins on October 1. Siemens has reorganised its activities into three main sectors: energy, healthcare and industry.

Overall operating profit for the three month period from January through March shot up by 43 percent to € 1.8 billion, while sales rose by five percent to € 18.95 billion, exceeding analysts’ expectations. Net profit leapt by 146 percent to € 1.01 billion from the second quarter of its previous fiscal year, which had been weakened by exceptional items.

Siemens has nonetheless not escaped fallout from the international economic crisis.

Orders in early 2009 fell by 11 percent and the group’s industry sector posted a 29 percent drop in its quarterly operating profit. Siemens boss Peter Loescher nonetheless stressed in an address that “Siemens is not in crisis,” and “did particularly well compared to our competitors,” in the latest quarter.

The company’s statement said that “the order backlog of the three sectors again increased, to € 87 billion, and included no material cancellations during the quarter.”

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Which Bavaria-based companies regularly hire English speakers?

Munich ranks third in German cities with the highest total GDP, behind Berlin and Hamburg, but in terms of GDP per capita, it’s higher than both of them.

It also consistently ranks high, often highest, in terms of average household income.

As of 2023, nine of the 40 companies listed on DAX, Germany’s stock index, were based in Bavaria. Seven of those are based specifically in Munich.

While Frankfurt is commonly known to be Germany’s business capital, Munich can claim the title of Germany’s insurance capital, which is saying something, as Germany is home to some of the largest insurance firms in the world, like Allianz.

Beyond the state’s capital city, a number of international companies are based elsewhere in Bavaria, particularly in the Franken region, near Nuremberg.

Which companies actively hire English speakers?

Bavaria, and Munich in particular, is home to a number of companies at the forefront of international business. But the state is known for its traditional, sometimes conservative, culture, which affects its business culture as well.

Whereas companies embracing English as their primary business language are easy to find in Berlin, the practice is less common in the south. That said, there are some notable exceptions.

Sportswear giants, Adidas and Puma, both have their headquarters near Nuremberg in Herzogenaurach, and regularly recruit English speaking international talent.

“As an international company, our teams reflect the rich diversity of our consumers and communities,” Jon Greenhalgh, Senior Manager Media Relations for Adidas told The Local. “Fostering a culture of inclusion where we value and leverage differences, ensures that we can authentically engage with our employees and truly connect with our consumers.”

He added that around 40 per cent of Adidas’ Germany-based employees are foreign nationals, from over 100 different countries.

Siemens and BMW rank among Bavaria’s top employers, and are also known to hire their fair share of foreigners.

“In Germany, we recently had around 2,000 open positions,” Konstanze Somborn told The Local on behalf of Siemens AG.

He added that Siemens operates in 190 countries. “That is why we value international teams very much…English as a common language is very usual.”

READ ALSO: ‘Which German companies want to hire foreigners?’

Similarly, BMW hires workers from a variety of backgrounds.

“Every year, we hire lots of internationals and welcome them to the BMW Group,” Dr. Hans-Peter Ketterl, a press spokesman for BMW Group told The Local.

But not all of these positions are available to non-German speakers.

Ketterl added that BMW’s working language is German in the country, even though, “English is an indispensable entry requirement as the second corporate language in many areas of the company.”

Check job boards and follow best practices

If it’s your first time applying for jobs in Germany, make sure to change your resume to the German format, even for English positions.

While Germany is home to its own job boards, like Xing, LinkedIn is probably the best place to start. In addition to searching for positions based in your preferred location, you can check relevant groups, like Munich Startups, to broaden your horizons.

The English Jobs in Germany website is also a good resource to start with.

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