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.
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.
The AMB, the International Exhibition for Metalworking, was open from September 18 to 22, 2018 in Stuttgart. Under the motto "Digitalization in Machine Tool Manufacturing - Implement now!", Siemens demonstrated to users and manufacturers of machine tools how end-to-end digitalization solutions work from the machine tool right up to the corporate management level and the cloud.
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.
From September 4 to 7, Siemens was at SMM under the banner "Welcome to the Digitalization at Marine – implement now," with an exciting presentation showcasing the entry of digitalization into its marine portfolio. At Booth 318 in Hall B6, Siemens exhibited its broad spectrum of drive technology, automation and digitalization services and solutions for shipbuilding and marine operations. Highlights of this year's trade fair presentation included a virtual reality representation of the Siship as well as the smart web-based data application Siship EcoMAIN. Siemens also featured integrated solutions for the (partial) electrification of ships using uniform topology with the latest members of its Siship BlueDrive Family. As well as moving over functional features familiar from Siship EcoProp under the name Siship BlueDrive Eco, Siemens also offered visitors a glimpse into its own battery production and presented a partner in the field of fuel cell-based power supplies for the commercial sector.
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.
Siemens exhibited at the automatica 2018 with an array of integrated and user-oriented Digital Enterprise solutions designed to sharpen the competitive edge of both end users and machine builders. Exhibiting under the banner "Digital Enterprise – Implement now!", Siemens focused on ways in which industrial enterprises of all sizes can benefit from the digital transformation – along the entire value chain from product design and production planning through the engineering process to new services.
World Forum and Leading Show for the Process IndustriesUnder the motto "Accelerate the digital transformation – from integrated engineering to integrated operations." we presented at the Achema 2018 trade show specific applications for how to use the potential of digitalization to enhance efficiency, flexibility, and quality – and to shorten time to market. Production can be significantly optimized and made more flexible by integrating all components in instrumentation and control and management systems and by intelligently using all of the process data generated in a common data model – the digital twin of the overall plant. Maintenance effort and costs can also be slashed dramatically by using cloud-based applications and data-based services.
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.