We released our first quarter results for fiscal year 2020 on February 3, 2021. The Press Conference Call and the Analyst Call were broadcast live.
- Siemens successfully completes leadership succession: Roland Busch new President and CEO at conclusion of Annual Shareholders’ Meeting
- Emotional farewell to predecessor Joe Kaeser after 40 years at Siemens AG
- Jim Hagemann Snabe reelected for four more years and confirmed as Supervisory Board Chairman
- Shareholders elect Grazia Vittadini and Kasper Rørsted to Supervisory Board
- Shareholders approve dividend proposal of €3.50 per share
Siemens AG has successfully completed the succession process for its top management. As long planned, Roland Busch (56) has succeeded long-serving President and CEO Joe Kaeser (63) as head of the Munich-based technology company. At the company’s virtual Annual Shareholders’ Meeting today, shareholders also confirmed, by a large majority, Supervisory Board Chairman Jim Hagemann Snabe (55) for another four-year term of office. In addition, shareholders elected Grazia Vittadini (51), Chief Technology Officer of Airbus and member of the Airbus Executive Committee, and Kasper Rørsted (58), CEO of adidas AG, first-time Supervisory Board members, likewise by large majorities. Their terms of office will run for four years. The total number of people following the virtual meeting, at which a total of around 350 questions were asked, peaked at 7,100.
- Annual Shareholders’ Meeting in virtual format due to corona pandemic
- Siemens bids farewell to Joe Kaeser after more than 40 years at the company
- Total shareholder return more than doubled since Kaeser took office in 2013
- Roland Busch new President and CEO of Siemens AG
- Jim Hagemann Snabe to stand for reelection for another four years and again assume Supervisory Board chairmanship
- Grazia Vittadini (Airbus) and Kasper Rørsted (adidas) nominated for election to Supervisory Board
The successful term of
office of long-serving President and CEO Joe Kaeser (63) will end today at
the Annual Shareholders’ Meeting of Siemens AG. As long planned, leadership of
the Munich-based technology company will be transferred from Kaeser to his
successor, Roland Busch (56) – a step that will mark the successful completion
of Siemens’ leadership succession process. Due to the COVID-19 pandemic, the
shareholders’ meeting is being held exclusively in a virtual format, in which
neither shareholders nor their proxies will be present in person.
- Revenue increased in first quarter to €14.1 billion, orders surged to €15.9 billion
- Adjusted EBITA Industrial Businesses jumped 39 percent year-over-year to €2.1 billion and adjusted EBITA margin to 16.0 percent
(Q1 2020: 11.7 percent)
- Net income rose substantially to €1.5 billion (Q1 2020: €1.1 billion)
- Free cash flow improved significantly to €1.0 billion (Q1 2020: €44 million)
- Net income in 2021 expected to be between €5.0 billion and €5.5 billion
Siemens AG has started off fiscal 2021 with a strong first quarter. From October to December 2020, orders, revenue and net income considerably exceeded both the prior-year figures and market expectations despite the still complex macroeconomic environment due to the COVID-19 pandemic and despite negative currency translation effects. As a result, Siemens has significantly raised its annual guidance for fiscal 2021 at key points.
Siemens held its virtual Annual Shareholders' on February 3, 2021.
Here you can find the opening and the speeches of Jim Hagemann
Snabe, Chairman of the Supervisory Board, and of Joe Kaeser, CEO.
- Digital Industries and Smart Infrastructure delivered sharply higher earnings compared to prior-year quarter
- Significant growth in China
- Detailed business figures for first quarter of fiscal 2021 to follow on February 3, 2021
Following a significantly better-than-expected business
performance, the preliminary operating results for Siemens’ businesses for the first quarter of
fiscal 2021 have exceeded market expectations. Driven by a strong improvement
in the automation business and software business of Digital Industries and
higher-than-expected growth in China, the operating results were substantially
higher year-over-year (yoy).
Siemens was
the first global industrial company to commit to carbon neutrality by 2030.
This commitment is not contingent on international treaties or regulations; it
is based on the understanding that we have a responsibility to protect our
planet. From 2014 to 2020, Siemens has been able to minimize the carbon
footprint of its own value chain by more than half (54%), thereby exceeding its
original goal of halving its global carbon-dioxide emissions by 2020.