Siemens has opened its first center for sustainable urban development in London. The heart of the Crystal is the world's largest exhibition dedicated to sustainable urban development. The crystal-shaped building will serve as a conference center, urban dialogue platform and technology and innovation center all in one, bringing together political decision-makers, infrastructure experts and the general public in order to develop concepts for the future of cities and their infrastructures. "Cities are the engines of the world economy and also have the greatest impact on the environment. The development of our planet will stand or fall with the development of cities. Looking ahead to the urban future, the Crystal showcases a wide variety of opportunities and concrete solutions," said Siemens President and CEO Peter Löscher at the opening ceremony.
Siemens is Supersector Leader in the Dow Jones Sustainability Index (DJSI) for the first time, leading the category "Industrial Goods and Services". Siemens also won the top spot in the sector "Diversified Industrials". The company achieved its best result to date with 92 points (2011: 90) out of a possible 100. The Diversified Industrials category includes companies like 3M, General Electric, Toshiba and ThyssenKrupp. Yesterday, Siemens was also honored by the Carbon Disclosure Project (CDP), receiving 98 points (2011: 97) out of a possible 100 in the independent ranking. "Being Supersector Leader is the highest possible award a company can achieve. Our strategy of being a role model and above all understanding sustainability as a business opportunity pays off. In a difficult environment, the credit goes above all to our employees worldwide, who are making Siemens a leader in sustainability," said Barbara Kux, member of Siemens' Managing Board and the company's Chief Sustainability Officer.
Given the favorable capital market conditions Siemens AG will optimize its capital structure and intends to buy back shares in the amount of up to Euro 3 billion. The company also plans to cancel approximately 33 million treasury shares. The share buy back is planned to be financed mostly by long term debt. "The current debt markets environment for Siemens in combination with its current valuation of its shares offers a unique opportunity for value creation in the long-term. We will take advantage of this environment and execute on our "One Siemens" targets", said Siemens Chief Financial Officer, Joe Kaeser.
Siemens, the Siemens Central Works Council, the German trade union IG Metall and the global industrial union IndustriAll have signed an international framework agreement on the principles of corporate responsibility. The agreement reaffirms Siemens' commitment to fundamental employee rights, including equality of opportunity, the right to collective bargaining and the freedom of association. "This agreement reflects Siemens' awareness of its responsibility to its employees and underscores the relationship of trust between the company, the works council and the union," said Siemens President and CEO Peter Löscher. "The joint framework agreement documents our company standards – which already apply worldwide and are firmly anchored in our Business Conduct Guidelines."
"The deceleration of the world economy has increased in the past few months. We see growing reluctance among our customers regarding capital expenditures and stronger economic headwinds, especially in our industrial short-cycle businesses. Therefore our focus above all is on increasing our productivity and efficiency. Given the deteriorating environment it becomes more difficult to achieve our guidance for the fiscal year."
We released our third quarter results for fiscal 2012 on July 26, 2012. The conference call was broadcast live on the internet.
Siemens felt the impact of a more difficult global market environment in the third quarter of fiscal 2012. Thanks to a solid order backlog and positive currency translation effects, revenue was up ten percent compared to the third quarter of fiscal 2011. On the other hand, new orders were down 23 percent due to a substantially lower volume from major orders like the ICx order from Deutsche Bahn in the prior-year quarter. Profit was considerably above the prior-year figure, which had been burdened by negative profit effects connected with an arbitration decision and the particle therapy business. "The deceleration of the world economy has increased in the past few months. We see growing reluctance among our customers regarding capital expenditures and stronger economic headwinds, especially in our industrial short-cycle businesses," said Siemens CEO and President Peter Löscher. "Therefore, our focus above all is on increasing our productivity and efficiency. Given the deteriorating environment, it is becoming more difficult to achieve our guidance for the fiscal year."
In partnership with the Z-13 Fishermen Community, Sindieco and the Pares Institute, the "Our Lagoon is for Fish" Project is looking to contribute to environmental education and the recuperation of the lagoon, as well as generating income for the local community.