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.
- Demand for bonds with a total value of €2.75 billion and maturities of five, nine and twelve years 2.5 times higher than issue volume
- Placement directly after summer lull secures favorable financing conditions
After a five-year absence, Siemens has made an impressive return to the euro capital market. For its new bonds, the company generated very strong demand of €6.8 billion. Siemens issued bonds with a total value of €2.75 billion and maturities of five, nine and twelve years. The high demand enabled Siemens to obtain very good interest-rate conditions over all maturities. At the time of price fixing, the average issue yield for all three maturities was 20 basis points (0.2 percentage points) below the initial indications.
- Around 2,170 apprentices and work-study program participants begin their professional life at 20 Siemens locations
- Training further aligned to the requirements of digitalization
- 27 participants in international training program in Berlin
Around 2,170 young people will begin their vocational training next Monday at 20 Siemens locations in Germany alone. Siemens will be training about 1,530 for careers at the company, while a further 640 are from external partners. The ongoing digitalization of the work environment is playing an increasingly important role at Siemens – and in the company's training programs as well. What began in "apprentice corners" back in 1891 is being continued today at advanced, innovative training centers.
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.
- Maier to succeed Klaus Moosmayer, who is leaving the company as of November 30, 2018
Martina Maier (51) has been appointed the new head of the global Compliance Department at Siemens AG. Maier, who currently heads Siemens' Competition Department, will assume the position of Chief Compliance Officer on December 1, 2018. This position has been held since 2014 by Klaus Moosmayer (49), who is leaving the company at his own request.
Siemens has reached yet another milestone in its journey to realize the many benefits of additive manufacturing (AM) and to lead the development of this innovative technology in the power generation industry. This time the company has successfully 3D-printed and engine tested a dry low emission (DLE) pre-mixer for the SGT-A05 aeroderivative gas turbine, with the impressive results showing a potential for significant reductions in CO emissions. This achievement further solidifies Siemens’ position as one of the world’s leading developers of innovative additive manufacturing techniques and uses in the energy industry."This is another excellent example of how additive manufacturing is revolutionizing our industry, delivering measurable benefits and real value to our customers, particularly as they look to further reduce emissions to meet environmental targets," said Vladimir Navrotsky, Chief Technology Officer for Siemens Power Generation Services, Distributed Generation. "Our achievements using AM are paving the way for greater agility in the design, manufacturing and maintenance of power generation components."The achievements resulting from using AM to manufacture this particular gas turbine component are significant. From concept to engine test, the development took only seven months, which is impressive for a component that requires such tight tolerances and works in high load and temperature. The DLE pre-mixer is highly complex with over 20 parts involved in the casting and assembly using traditional manufacturing methods. By utilizing Siemens qualified nickel super alloys as the AM printing material, the 3D-printed component requires only two parts and lead time is reduced by approximately 70 percent. 3D-printing of the DLE pre-mixer allows Siemens to simplify complexity in the production process, reduce external dependencies in the supply chain, and improves the geometry of the component, thus allowing a better fuel-air mix.First engine testing of the AM-manufactured DLE pre-mixer, which was 3-D printed in Siemens' AM center of competence in Finspang, Sweden, was recently completed and the data received is promising. It showed no start issues, all fuel transitions were accomplished successfully without any controls modifications required, there were no combustion dynamics or noise, measurable CO emissions reductions were realized and full power was achieved. These positive results reaffirm Siemens commitment to continuing to advance toward serial production of highly complex components, such as this one, using AM.Siemens' DLE solution for the SGT-A05 gas turbine reduces emissions through advanced lean burn combustion technology, eliminating the need for water injection. The DLE conversion reduces customers' operating costs associated with water treatment. Application of DLE does not compromise the high dynamic loading response of this aeroderivative engine model. More than 120 engines are successfully utilizing DLE technology to reduce NOx and CO emissions with 3.9 million operating hours accumulated (as of February 2018). ''And now, with AM technology we have an opportunity to go even further with emissions reduction for DLE combustion," said Douglas Willham, Siemens Director of Engineering for the SGT-A05.Last year, Siemens finished its first full-load engine tests for gas turbine blades completely designed and produced using AM technology. Earlier this year, the company 3D-printed and installed into customer's equipment its first replacement part for an industrial steam turbine. In early 2017, Siemens achieved the first successful commercial installation and continuing safe operation of a 3D-printed part in a nuclear power plant – an impeller for a fire protection pump that is in commercial operation. Siemens accumulated more than 30,000 hour of successful commercial operation for SGT-800 burners repaired with AM technology and for SGT-750 burner swirls manufactured by AM. All these combustor components are running in a very high load and temperature environment.
- On a comparable basis, excluding currency translation and portfolio effects, orders rose 21% and revenue was level with the prior-year period
- On a nominal basis, orders climbed 16% to €22.8 billion driven by a higher volume from large orders, while revenue came in at €20.5 billion, 4% lower than the prior-year quarter due primarily to currency translation effects; the book-to-bill ratio was 1.11
- Industrial Business profit was up 2% at €2.2 billion and Industrial Business profit margin was 10.7%; excellent performance by Digital Factory and improvements in many Divisions partly offset by a sharp decrease in profit and profitability at Power and Gas
- Net income of €1.2 billion was held back by substantially higher income tax rate compared to Q3 FY 2017, which also benefited from positive effects in Centrally managed portfolio activities; basic earnings per share (EPS) of €1.36 compared to €1.67 in Q3 FY 2017
"Our global team delivered a strong quarter, highlighted by outstanding order intake, outperforming the market. We diligently address our opportunities and challenges going forward," said Joe Kaeser, President and Chief Executive Officer of Siemens AG.
At its meeting yesterday, the Supervisory Board of Siemens AG approved the company's new Vision 2020+ strategy and reassigned responsibilities within Siemens' Managing Board.
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.
The Supervisory Board of Siemens AG intends to propose to the Annual Shareholders’ Meeting the appointment of Ernst & Young GmbH, Stuttgart, to serve as independent auditors for fiscal 2019. This is the result of an intensive dialogue between the Supervisory Board, the Audit Committee and the Managing Board of Siemens AG as well as of an extensive tender process pursuant to relevant European statutory provisions. In the view of the aforementioned governing bodies and committee, Ernst & Young presented the most attractive offer in the tender process.