Jürgen Brandes (54) has been appointed CEO of Siemens’ Process Industries and Drives Division, effective October 1, 2015. He will succeed Peter Herweck (48), who is leaving the company at the end of the fiscal year. Brandes has been at Siemens for 25 years and is currently CEO of the company’s Mobility Management Business Unit. He previously held a variety of positions in Siemens’ automation and drives technology business both in and outside Germany.
- Acquisition of Dresser-Rand to close for US$7.8 billion by end of June
- Dresser-Rand shares to be delisted
- Vincent Volpe to head the new Dresser-Rand business at Siemens through transition
The EU Commission has unconditionally approved Siemens' acquisition of Dresser-Rand. All regulatory approvals required to complete the transaction have thus now been obtained. Siemens plans to close the transaction by the end of June 2015. Siemens will pay all Dresser-Rand shareholders US$85.20 per share. The purchase price comprises the offer of US$83 per share plus a time-dependent ticking fee totaling US$2.20 per share for the months of March to and including June 2015. The overall consideration for acquiring all outstanding Dresser-Rand shares including the assumption of outstanding financial debt of US$1.2 billion is about US$7.8 billion.
- US$7.75 billion with maturities of 3, 5, 7, 10 and 30 years
- Demand two-and-a-half times the planned issue volume
- Broad investor base, mainly in the U.S.
- Rating agencies continue to give Siemens high credit rating
Siemens has successfully placed its largest bond issuance to date. It was the company's second bond placement on the U.S. capital market, with the first having been nine years ago. In a transaction that ended yesterday, Siemens issued bonds with a total value of US$7.75 billion and maturities of three, five, seven, ten and 30 years. Due to the very high demand, the company obtained very favorable interest-rate conditions for all maturities. Investor demand was two-and-a-half times the originally planned issue volume of US$7 billion. At the time of price fixing, the interest rate premium over comparable U.S. government bonds averaged 14.5 basis points below the initial indication at the beginning of the issuance.
- The Enel power company and Siemens build a smart grid
- Siemens makes Libeskind sculptures possible
During Expo 2015 in Milan, Italy, Siemens is serving as the strategic partner to Enel for delivering the intelligent grid technology that supplies the world's fair with electricity. For Italy's largest power company, Siemens developed the energy management capabilities for this smart grid. Siemens software makes it possible to monitor and optimize power consumption for the entire Expo grounds from a computer screen at the control center – or from anywhere via smartphone. This also includes the lighting and air conditioning at the national pavilions. In addition, Siemens is enhancing the world's fair grounds with international art: Four monumental sculptures commissioned by Siemens and designed by Daniel Libeskind Studio were installed at the Piazza Italia, a central promenade.
- Siemens on track to reach targets for fiscal 2015 in an increasingly difficult environment
- Agreement reached with employee representatives in Germany regarding measures to sustainably reduce overhead cost base by €1 billion by 2016
- Power and Gas Division seeks long-term improvement in profitability within a consolidating environment
- Restructuring of underperforming businesses initiated
- Structural reorganization of company largely completed
- Focus on growth, innovation and continuous profitability improvement
One year after presenting its Vision 2020, Siemens is on track with the implementation of its concept for the company's strategic realignment. As announced, Siemens has informed its Supervisory Board and the relevant committee of employee representatives regarding the next steps planned in order to improve the company's profitability. These steps include measures to improve profitability at the Power and Gas Division's power generation business as well as a bundle of additional measures for restructuring chronically low-profit businesses. "With the initiation of these measures, the company's structural reorganization has been completed for the most part," said Joe Kaeser, President and CEO of Siemens AG.
We released our second quarter results for fiscal 2015 on May 7, 2015. The Analyst Conference and the Conference Call for journalists were broadcast live.
- Second-quarter orders up 16%, to €20.8 billion, including large orders in the rail business; on a comparable basis, excluding currency translation and portfolio effects, orders up 7%
- Revenue 8% higher at €18.0 billion, for a book-to-bill ratio of 1.15; revenue flat on a comparable basis
- Industrial Business profit 5% lower, at €1.7 billion, due largely to Power and Gas as expected
- Net income of €3.9 billion, including €1.6 billion, €1.4 billion and €0.2 billion, respectively, on the sale of the hearing aid business, Siemens' stake in BSH Bosch und Siemens Hausgeräte GmbH (BSH) and the hospital information business; resulting in basic earnings per share (EPS) of €4.70
"For business volume, we performed well in our markets. The profitability of our Industrial Business shows that we must still improve some businesses."
- Thomas Schaffer named CFO of Process Industries and Drives Division
- Michael Sen to leave the company
Thomas Rathmann (50) has been appointed Chief Financial Officer in the Executive Management of Siemens Healthcare GmbH for the launch of the new company, in which Siemens' separately managed healthcare business will be located as of May 1, 2015. He will succeed Michael Sen (46) as CFO of Siemens' healthcare activities. Mr. Sen is leaving Siemens at his own request.
On the first day of Hannover Messe, Klaus Helmrich welcomed you to the yearly press conference. As member of the Managing Board of Siemens AG, Klaus Helmrich is responsible for the Divisions Digital Factory as well as Process Industries and Drives. He was speaking on the digitalization of the industry. The press conference took place on Monday, April 13, at 6:30 PM, in Room 1 of the fair's Convention Center.
- Themed guided tours of Hannover Messe stopping at the main Siemens booth in Hall 9
- CEO2You platform offers students chance to converse with Siemens Management members
- Tec2You Patron Johanna Wanka, Federal Minister for Education and Research, to visit the fair
Siemens will be enabling around 1,000 students from 35 Siemens partner schools from around Germany to take part in the Tec2You young technology talent initiative at the Hannover Messe 2015. The scheme will allow youngsters between the ages of 15 and 18 to take part in guided tours of the fair grounds and the main Siemens booth in Hall 9. The tours will start out from the Siemens Tec2You booth in Hall 11/D. By providing workshops, interactive guided tours and the opportunity to talk face to face with CEOs, Siemens is offering the youngsters an introduction to the world of engineering and opening up the prospect of interesting potential career paths. As one of Germany's biggest training enterprises, Siemens opens up global perspectives to trainees and students on cooperative study programs, providing them with wide-ranging skill sets. Overall, the Tec2You scheme is expecting to welcome around 10,000 school students to this year's Hannover Messe.