UPDATE 1-Siemens CFO says no industry automation trough yet

* Siemens on track to meet fiscal 2009 goals-CFO

* Too early to give targets for fiscal 2010-CFO

* Shares up 0.6 percent

(adds background, share price)

FRANKFURT, June 24 (Reuters) - German industrial conglomerate Siemens (SIEGn.DE) has not yet seen a trough in its industrial automation division, Chief Financial Officer Joe Kaeser said on Wednesday.

Kaeser told journalists on the sidelines of an investor conference that the company -- a bellwether of Germany's economy -- was on track to meet its fiscal 2009 goals, though it was too early to give specific goals for year to September 2010.

Industry automation, a bread-and-butter business at Siemens, has been one of the key divisions bearing the brunt of the recession as manufacturing customers continued to destock.

Division revenues declined 21 percent in the fiscal second quarter to end-March while new orders fell 28 percent, led by a decline in Europe, Siemens' largest regional market.

Profit margins in automation fell in all business units.

Siemens has forecast its so-called total sector operating profit for fiscal 2009 would exceed the prior-year level of 6.6 billion euros ($9.15 billion).

Shares of Siemens rose 0.6 percent to 48.43 euros by 1012 GMT, slightly underperforming a 0.8 percent gain in Germany's blue chip index GDAX.