By Ben King, 14 November 2001 11:59
NEWS Big losses in the mobile and networks divisions contributed to Siemens' E1.098bn (£670m) fourth quarter loss. Siemens' networks division posted a E861m (£527m) loss before tax, interest and debt amortisation (EBITDA), down from last year's E686m (£420m) EBITDA profit for the last quarter. The mobile division took a E307m (£188m) EBITDA hit, plunging from last year's E718m (£440m) EBITDA profit. This was despite increased sales in both divisions, of 13.8 per cent and 26.8 per cent respectively. The overall performance of the industrial giant, which makes everything from power station equipment to light bulbs, was broadly in line with expectations. The group's EBITDA loss was E130m (£80m), hit by E959m (£587m) of restructuring charges and write-downs of assets.
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