S&P
Global Ratings announced today that it has upgraded its long-term issuer rating
on Siemens AG to AA- from A+, the outlook remaining stable. According to
S&P Global Ratings, “Siemens AG continues to
successfully transform its industrial portfolio by focusing on high margin
businesses that have leading market positions and benefit from secular trends
like digitalization and decarbonization, while also divesting its lower margin
or more volatile businesses.”
For the past
15 years, the rating agency has maintained an A+ rating for Siemens AG.“The upgrade
in our rating underlines once again Siemens AG’s financial strength. We
are pleased that S&P Global Ratings has given fitting recognition
to our outstanding cash performance and strong operating results. Our AA- rating
puts us well ahead of our peers and is a pleasant privilege”, said Ralf P. Thomas,
Chief Financial Officer of Siemens AG.
Todd Weatherby
(58) has been appointed as Chief Executive Officer Siemens Advanta, leading the
professional services and consultancy business as of March 1, 2024. Todd has
held leadership roles in product management, business development and sales
with several technology companies including Oracle, Microsoft and Amazon. He
launched Amazon Web Services ProServe and led its impressive growth for a
decade from 2012.
Cedrik Neike, CEO Siemens Digital Industries
and the Member of the Managing Board responsible for Siemens Advanta, said;
“Todd has deep expertise in the professional services space within the tech
sector. As an experienced leader, he will support the continued growth of
Siemens Advanta. We welcome him to Siemens and look forward to supporting him
as he works to help our customers leverage the power of technology.”
Siemens held its virtual Annual Shareholders' Meeting on February 8, 2024.
Here you can find the opening speeches by the Chair of the Annual Shareholders’ Meeting Werner Brandt, Second
Deputy Chairman of the Supervisory Board, and of Roland Busch, CEO.
We released our first quarter results for fiscal year 2024. The Press Conference Call and the Analyst Call were be broadcast live.
- Orders in Q1 2024 reached €22.3 billion (Q1 2023: €22.6 billion); an increase
of 2 percent on a comparable basis
- Revenue rose 6 percent on a comparable basis to €18.4 billion (Q1 2023:
€18.1 billion)
- Profit Industrial Business totaled €2.7 billion (Q1 2023: €2.7 billion); profit
margin Industrial Business increased to 15.8 percent (Q1 2023: 15.7
percent)
- Free cash flow at Group level rose sharply year-over-year to €1.0 billion
(Q1 2023: €0.1 billion)
- Net income climbed 56 percent to €2.5 billion (Q1 2023: €1.6 billion)
- Outlook for fiscal 2024 confirmed
- Virtual Annual Shareholders’ Meeting to vote on dividend proposal of €4.70
per share for fiscal 2023 (fiscal 2022: €4.25)
Siemens made a successful start to fiscal 2024 with a strong performance in the first quarter (ended December 31, 2023). At €2.7 billion, Profit Industrial Business increased at nearly all industrial businesses to reach a record high for the first quarter of a fiscal year. On this basis, Siemens confirms its outlook for the current fiscal year 2024. As announced in November 2023, the company is also initiating a new share buyback program in the near term with a volume of up to €6 billion over a period of up to five years.
- Progressive dividend policy with €0.45 increase over prior year
- High approval rates for all agenda items
At the Siemens AG Annual Shareholders’ Meeting that was held today, the shareholders decided by a large majority of 99.91 percent to approve
the Managing and Supervisory Boards’ proposal that a dividend of €4.70 per
share be distributed for fiscal 2023. As a result, Siemens has raised the
dividend €0.45 compared to the prior year and has continued to pursue its
progressive dividend policy in an impressive manner. In addition, the Annual
Shareholders’ Meeting voted by large majorities to ratify the acts of the
members of the Managing and Supervisory Boards for fiscal 2023. The number of
people following the Annual Shareholders’ Meeting worldwide peaked at more than 4,395. Around 147 questions were asked during
this year’s event, and about 64.38 percent
of the voting stock was represented.
- Siemens one of few companies out of 21,000 to secure a place in the CDP Climate Change A List
- CDP rating recognizes Siemens’ strong approach in the area of climate change
In recognition
of its environmental leadership and comprehensive disclosure in the area of
climate change, Siemens has been included by the CDP on its annual Climate
Change A List, the highest possible performance ranking. CDP is a leading organization
evaluating corporate action on climate strategies. The non-profit assessed more
than 21,000 companies on the basis of data reported in its 2023 climate change
questionnaire. Siemens is one of the few companies to have received an “A” rating.
- Italian distribution system operator (DSO), Areti, to use Siemens technology to forecast grid congestion and request flexibility on MV and LV grids
- Set of algorithms developed by Siemens for RomeFlex project enables the Roman DSO to use flexibility to make the grid smarter, more resilient and future-proof
- With the RomeFlex project, Areti and Siemens will build on the experience gained from the EU Platone project
Siemens and Roman DSO, Areti, have announced their collaboration on the
RomeFlex project, which starting today will test the ability to manage congestion and
voltage volatility across the stressed power grids of Italy's capital city.
- Siemens and UL Solutions demonstrate a transformative shift from relying
solely on physical tests to reliable integrating digital simulations.
- Reduced costs, accelerated time-to-market and seamless integration of
digital modeling tools will redefine the future of verification.
- Siemens’ digital twin technology breaks through traditional testing
boundaries, serving as a testament to the industrial metaverse’s potential
for reshaping product development possibilities.
For the first time ever, an industrial product has been certified for the United States
after parts of the required tests were conducted through digital simulation. That
simulation was verified and validated with physical testing. This remarkable
achievement is a global first in a national safety-certification process. To make this
advance possible, Siemens collaborated with UL Solutions, an esteemed global
leader in applied safety science. The result is a testimony to the remarkable
accuracy and reliability of modern digital twin simulations. It marks a step forward
into a future in which digital twins and the industrial metaverse streamlines product
development, enhances innovation, safety and accelerates time-to-market.