Siemens AG (SIE), shares jumped 3.3 percent to 81.4 euros

Siemens AG (SIE), shares jumped 3.3 percent to 81.4 euros at the open of trading in Frankfurt. Siemens AG (SIE) is Europe’s biggest company that specializes in engineering products, have plans to save $7.7 billion (6 billion Euros) in two years. Siemens aims to raise sales to 12 percent by 2014 from 9.5 percent in 2012.

Chief Executive Officer Peter Loescher said in a statement that Siemens didn’t fully succeeded in boosting of their performance in comparison to its competitors. Loescher was firmed in his statement and said that his company believes that they have to do improvement and they will.

The overall income of company was down by two percent to 1.48 billion euros in the third quarter.The company achieved profit of 5.18 billion euros in current fiscal year against forecasted target of 5.2 billion euros. Good rise in sales were observed with 7 percent increase it touched 21.7 billion euros, which is its 10th consecutive gain.