May 8, 2020 / 7:15 AM / 25 days ago

Siemens prepares for COVID-19 trough to last 6-9 months: CNBC

FRANKFURT (Reuters) - Siemens (SIEGn.DE) is preparing for a prolonged economic trough triggered by the COVID-19 pandemic, Chief Executive Joe Kaeser told CNBC on Friday after releasing fiscal second-quarter results.

Kaeser said he was confident that the trough would be reached in the group’s fiscal third quarter, which runs from April to June. “The question where the jury is still out is how long it’s going to last,” he said.

“We’ve been planning more for a two to three quarters trough before we see a substantial uppick again.”

Reporting by Christoph Steitz; editing by Thomas Seythal

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