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Siemens deputy CEO confident about automotive and machinery recovery

ZURICH, Feb 3 (Reuters) - A stronger than expected rebound in the automotive and machinery industries where customers released their pent-up demand boosted Siemens’ first-quarter results, deputy CEO Roland Busch said on Wednesday.

The engineering company increased revenue in all regions, particularly Germany and China, he told a news conference after the company posted its results.

“For this reason, we are raising our outlook for fiscal 2021 – based on the assumption that this improvement will continue in the coming quarters, particularly for our short-cycle businesses,” Busch said. (Reporting by John Revill; editing by Thomas Seythal)

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