Hello Mt. Blanc. Surely sales from Europe to abroad have suffered nearly in all sectors. Machine engineering (Volvo, MAN, Wärtsilä, all producing in euro district) still have shown growth.
It is hard to believe that this kind of losses (Siemens -67%) are a result of only one quarter. Euro has strengthened versus dollar 25% over two years now, and it begins to show in results. Costs in euros and revenues in dollars is tough to manage - not to mention decline in commerce.
Dollar has strengthened versus euro in this week, and many specialists are forecasting that 1.60 was the bottom, and dollar is on its way up.
