- Innomotics to be sold to KPS Capital Partners
for €3.5 billion
- Innomotics is a global leader in electrical motor and large-drive
business with €3.3 billion in revenue and employs approximately
15,000 people
- Future setup offers the Innomotics business the
best framework conditions for sustainable and growth-oriented development
- Transaction expected to close in first half of
fiscal 2025
- Another step for Siemens in focusing its
portfolio
The Managing Board and
Supervisory Board of Siemens AG have approved the sale of Innomotics – a
world-leading electric motors and large drives company – to KPS Capital
Partners, LP (“KPS”). The contracting parties have signed a corresponding
agreement. The purchase price (enterprise value) is €3.5 billion. The sale to
KPS is expected to close in the first half of fiscal 2025 and is subject to customary
foreign-investment and merger control approvals.
We released our second quarter results for fiscal year 2024. The Press Conference Call and the Analyst Call were broadcast live.
- At €19.2 billion on a comparable basis, revenue was nearly unchanged year-over-year (Q2 2023: €19.4 billion)
- Orders in Q2 2024 reached €20.5 billion (Q2 2023: €23.6 billion), a decline of 12 percent on a comparable basis
- At €2.5 billion, Profit Industrial Business was close to the prior-year level (Q2 2023: €2.6 billion)
- Net income totaled €2.2 billion (Q2 2023: €3.6 billion); net income in Q2 2023 benefited from a tax-free gain of €1.6 billion from the partial reversal of an impairment of Siemens’ stake in Siemens Energy AG
- Free cash flow all-in at Group level was €1.3 billion (Q2 2023: €2.3 billion)
- Outlook at Group level confirmed
Siemens delivered solid performance in the second quarter, successfully meeting the high demand for digitalization and sustainability technology. Notably, the industrial software business showed strong growth with particularly high demand in the semiconductor industry. Demand from customers for the construction of data centers also showed strong momentum. Currently muted demand in the short-cycle automation business at Digital Industries, particularly in China and Europe, was largely offset by strong revenue development at Smart Infrastructure and Mobility. In addition, Siemens took a key step in focusing its portfolio with the sale of Innomotics to KPS Capital Partners for €3.5 billion.
- Siemens and Foxconn sign memorandum of understanding (MoU) highlighting joint commitment to sustainability
- Cooperation to define standards for the factory of the future and manufacturing processes
- Innovations to positively impact information and communications technology and electric vehicle production ecosystems
- Siemens Xcelerator portfolio to optimize Foxconn's operations for efficiency and agility
Siemens AG, a leading
technology company, and Hon Hai Technology Group (Foxconn), the
world's largest electronics manufacturer, have signed a memorandum of
understanding (MoU) to drive digital transformation and sustainability in smart
manufacturing platforms.
- New AI-based apps for more efficient operation of water infrastructures available on the Siemens Xcelerator marketplace
- Easy integration into existing infrastructure without specialist knowledge
- Siemens to showcase its digitalization and automation portfolio for more sustainability in the water sector at IFAT 2024
Siemens, a leading technology company, has expanded its software portfolio for the water industry, enabling its customers to optimize their plant operations using artificial intelligence - without the need for technical expertise. These self-service solutions enable users to address the most pressing issues in water and wastewater operations: reducing water loss, preventing pollution from sewers, and ensuring the reliability of treatment assets. The effect of these applications is also a contribution to greater sustainability overall, as the world's water resources can be better protected. "Digital technologies have not yet been widely adopted in the water sector so far," says Anja Eimer, General Manager Global Water Business at Siemens. "The existing OT and IT device landscape of is complex, skilled workers are in short supply, and the business benefits of many digital applications have often been unclear. With our new software offerings, we are adressing these conditions and enabling water companies to perform AI-based operational analyses."
- Workstation provides with software-defined automation unprecedented control over factory automation and security
- At Automate 2024, Siemens highlights how co-creator Ford Motor Company will be the first customer to deploy and scale this technology in its manufacturing operations
Siemens, a leading
technology company, today announced a breakthrough in the longstanding
challenge of closely managing numerous hardware control points throughout the
factory. The solution is the new Siemens Simatic Automation
Workstation, which allows manufacturers to replace a hardware PLC, a
conventional HMI and an edge device with a single, software-based workstation.
This ushers in Information Technology (IT) workflows to Operational Technology
(OT) environments.
- Depot to be expanded to 87,550 m²
- New capacity for meeting growing demand
- 100% system availability thanks to digitalized depot operation
- Creation of attractive jobs in the region
- Up to 250 employees at the location in 2026
Siemens Mobility is investing approximately €150 million to expand its service depot in
Dortmund-Eving to 87,550 m² to meet the growing demand for rail services.
Plans call for constructing an additional 12,300 m² service hall
with storage facility, offices, and workshops to handle the maintenance of
trains up to 400 meters long. Construction
of the new building is scheduled to begin in 2024 and be completed by 2026. The
Siemens Mobility depot in Dortmund previously had a total area of
70,000 m² and will cover 157,550 m² when the project is
completed.