We released our financial figures for the fourth quarter and fiscal year 2018 on November 8, 2018. The Press Conference and the Analyst Call were broadcast live.
Agility is the ability to adjust rapidly to changing market conditions, capitalize on emergent business opportunities, and reduce costs or increase revenue streams in the process. In the wake of decarbonization, decentralization, and digitalization, it is the basis for grid operators' and utilities' future business success.
The Siemens booth at EUW 2018 presented combined solutions for electrification, automation, and digitalization that pave the way for multilayered, distributed, and connected grids, this way enabling the required degree of agility.
During the conference, Siemens introduced the new SGT-400 PL Compressor Package, a highly integrated, turnkey gas turbine and centrifugal compressor solution. With field-proven, efficient, and reliable components, this new package offers a single-lift, one baseplate configuration for fast deployment, DLE combustion technology for emissions compliance even at low loads, and expert, 24x7 support for responsive service.
Siemens and the company's Central Works Council have signed a reconciliation of interests based on the framework agreement reached in May. The goal is to increase the competitiveness of the Power and Gas Division (PG) and the Process Industries and Drives Division (PD). At PG alone, costs are to be reduced – as originally planned – by about €500 million worldwide, with €270 million of this amount to be saved in Germany. Around 2,900 jobs will be cut in Germany instead of the roughly 3,400 announced last November. This reduction in job cuts is due, above all, to the continuation of the location in Görlitz, Germany, and the retention of activities at the Dynamowerk, a Siemens production facility in Berlin. However, the measures are not restricted to capacity adjustments alone. Instead, they are primarily designed to achieve structural improvements and systematically sharpen the company's focus on the technologies of the future.
"The market for fossil power generation has contracted substantially. Against the backdrop of this structural change, the agreement we've reached is critical to improving our competitiveness. We now have to implement the measures quickly," said Lisa Davis, member of the Managing Board of Siemens AG.
"In the past few months, market forecasts have again worsened considerably. The job cuts agreed upon with the employee representatives are only one of the measures urgently necessary to improve our cost position. With the reconciliation of interests, we've also reached an agreement on structural changes and new opportunities for several locations," said Janina Kugel, Chief Human Resources Officer and member of the Managing Board of Siemens AG.
The world's largest trade fair for transport technology – InnoTrans – was being held in Berlin from September 18 to 21. Once again, Siemens has showcased its products in Hall 4.2 and in the outdoor exhibition area.Digitalization is fundamentally transforming the mobility industry. It is improving the availability of vehicles and infrastructures, optimizing operations, and reducing efforts and costs. Reflecting these changes, digital innovations in a networked "Complete Mobility System" was the focus of Siemens' presentation at InnoTrans 2018. Following the motto "Shaping connected mobility," Siemens has showcased new, intelligent solutions that will make rail transport more efficient, safer and more reliable.
Siemens showcased its comprehensive oil and gas solutions at the Turbomachinery & Pump Symposium (TPS), September 18 – 20, 2018 at the George R. Brown Convention Center in Houston, TX. Oil and gas companies have some of the most complex physical and technical operational challenges of any business on the planet. To manage risks, control costs and optimize asset performance, oil and gas operators increasingly rely on digital technologies and analytics to improve efficiencies and safety for all aspects of oil and gas production, distribution and use. Leveraging 170 years of technological and engineering expertise, with extensive experience in operational technology (OT) and information technology (IT), Siemens' suite of innovative technologies deliver cutting-edge hard and software capabilities for equipment and solutions that enhance efficiency, predictability, reliability and safety for its customers.
Siemens joined Gastech 2018, which took place in Barcelona, Sept. 17 – 20. In its 45th year, the world renowned event was a highly regarded gathering for upstream, midstream and downstream gas and LNG professionals. Siemens used the occasion to highlight its integrated Gas-to-Power (G2P) solutions, through which the company is playing an integral role in increasing utilization of natural gas—a highly abundant, cost-effective fuel—as a feed stock for power plants. Sessions featured Siemens speakers which are outlined below.
Siemens showcased its comprehensive offshore oil and gas solutions at the Offshore Northern Seas (ONS) August 27 – 30 in Stavanger, Norway. From offshore drilling, to subsea, to floating productions platforms, Siemens real world deployments of scalable, software solutions help upstream customers optimize decision-making, increase productivity, maximize capital efficiency, and improve safety and security. Visitors learned how more than 35 years of operational offshore experience – combined with our digital expertise – turned data into value throughout the entire value chain.
Combined press and analyst conferenceWe released our third quarter results for fiscal year 2018 on August 2, 2018 and outlined a strategy update. The combined press and analyst conference was broadcast live.
We released our second quarter results for fiscal year 2018 on May 9, 2018. The Conference Call for journalists and the Analyst Call were broadcast live.