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.