Train and machinery maker Siemens sees profit rise in Q4, offers cautious outlook

MarketsAssociated Press

Industrial equipment maker Siemens AG says net profit rose 40 percent in the fourth quarter but issued a cautious outlook for the coming year, saying global tensions would affect its business and predicting flat revenue.

Siemens also said Thursday it was selling its hearing-aid business to the investment company EQT and Germany's Struengmann family of entrepreneurs for 2.15 billion euros.

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Net income for the quarter, the company's fiscal fourth, rose to 1.498 billion euros ($1.872 billion) from 1.068 euros in the same quarter a year ago. Revenue was flat at 20.559 billion euros.

The Munich-based maker of heavy equipment such as trains and power turbines said that the business environment would be "complex" in 2015, among other things due to geopolitical tensions.