Siemens train division suffered a more than 30% drop in orders in the first quarter

Siemens train division suffered a more than 30% drop in orders in the first quarter

While Siemens train division suffered a more than 30% drop in orders in the first quarter, Siemens Mobility reported resilient performance in the second quarter of fiscal 2020 in spite of the coronavirus pandemic, Joint CEOs, Ms Sabrina Soussan and Mr Michael Peter, revealed in an online press briefing held on June 15.

In Asia, the company is encouraged by the speed at which operation has resumed in China and the overall response of the region to containing the pandemic. However, in Latin America, where the infection rate is high, Peter said the company does anticipate a slowdown in demand. Brazil in particular is expected to suffer because many of its infrastructure projects are financed through public-private partnerships (PPPs) and may struggle to resume.

Siemens also used the online event to launch a new vision for the company, and a new motto, Moving Beyond, which the company says provides clear and common direction to lead the mobility industry into the future.

Siemens’ train division suffered a more than 30% drop in orders in the first quarter

The CEOs revealed some of the measures taken by the company to help combat the Covid-19 crisis and keep operations running. Peter said Siemens’ first and primary focus was on maintaining the health and safety of employees with the company quick to institute social distancing measures and other practices to guarantee safety.

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