We released our financial figures for the fourth quarter and fiscal year 2013 on November 07, 2013. The press conference was broadcast live on the internet.
- Clear plus in orders, slight decline in revenue
- Income from continuing operations at €4.2 billion
- Profit includes €1.3 billion in charges related to Siemens 2014 (before taxes)
- At least 15 percent increase in basic earnings per share (net income) expected for fiscal 2014
Siemens AG met its previously adjusted targets for the fiscal year ended on September 30, 2013, thanks to a solid fourth quarter. Income from continuing operations was €4.2 billion, compared with €4.6 billion in the previous year. Total Sectors Profit included €1.3 billion (before taxes) related to the Siemens 2014 efficiency program. "With a solid fourth quarter, we completed an eventful year in fiscal 2013. Now we're looking ahead and concentrating on measures aimed at improving our profitability, which we are implementing rigorously and prudently. With realignment of the regions, we've made the first strategic moves," said Joe Kaeser, President and CEO of Siemens AG.
- Orders and revenue for the fourth quarter came in 1% lower year-over-year, at €21.011 billion and €21.168 billion, respectively. On an organic basis, excluding currency translation and portfolio effects, orders and revenue both rose 3%.
- Total Sectors Profit declined to €1.609 billion, due mainly to €688 million in charges for the "Siemens 2014" program. The prior-year period also included substantial burdens on Total Sectors Profit.
- Income from continuing operations for the quarter was €1.075 billion and basic EPS was €1.20.
- Free cash flow from continuing operations was €4.357 billion, above the high level in the fourth quarter a year earlier.
- For fiscal 2013, orders rose 8% year-over-year, to €82.351 billion, due to a higher volume from large orders compared to the prior year, while revenue came in 2% lower, at €75.882 billion. Total Sectors Profit was €5.788 billion, including €1.276 billion in charges related to "Siemens 2014." Income from continuing operations was €4.212 billion. Siemens proposes a dividend of €3.00 per share, unchanged from fiscal 2012.
"With a solid fourth quarter, we completed an eventful year in fiscal 2013. Now we're looking ahead and concentrating on measures aimed at improving our profitability, which we are implementing rigorously and prudently. With realignment of the regions, we've made the first strategic moves."
- Sunil Mathur to head Siemens India
- Current India CEO Armin Bruck appointed CEO of Siemens Singapore
- Singapore CEO Lothar Herrmann to be new China Head
Sunil Mathur has been appointed CEO of Siemens’ Regional Company in India. Currently the CFO of the Regional Company in India, he will succeed Armin Bruck. Mathur has held a variety of positions at Siemens over the past 25 years. Bruck is moving from India to Singapore, where he has been appointed CEO of Siemens’ Regional Company in this country.
- Cluster setup to be eliminated
- Countries to have more market competences and report directly to the Managing Board
- Corporate units to be bundled
The regional cluster setup which is currently in effect at Siemens is to be eliminated. By implementing this move, which will give the individual countries more competences in the future, Siemens intends to intensify its customer access and expand its regional business. "Eliminating the clusters will make Siemens more streamlined and closer to the markets. We're substantially strengthening our regions, whose heads are our customers' most important contacts," stated Joe Kaeser, President and CEO of Siemens AG.
- After five years of CEO experience outside of Siemens, Horst J. Kayser to return as head of the Corporate Strategies Department at Siemens
- Current strategy head Peter Herweck to make Siemens a leader in the process industry
- Janina Kugel to head personnel strategy and executive development at Siemens – Nicolas von Rosty to leave the company by mutual agreement
Horst J. Kayser has been appointed the new head of strategy at Siemens, effective November 1, 2013. He succeeds Peter Herweck, who is to make Siemens a leader in the process industry. Janina Kugel, head of human resources at Osram, will assume responsibility for personnel strategy and executive development at Siemens, effective December 1, 2013. The current head of the corporate department Corporate Development Executives, Nicolas von Rosty, will leave the company by mutual agreement.
Siemens President and CEO Joe Kaeser and Russian President Vladimir Putin met today for detailed talks in the Russian city of Tuapse. Russian Economics Minister Alexei Ulyukayev, the president of the Russian state oil company ROSNEFT, Igor Sechin, and the CEO of Siemens Russia, Dietrich Moeller, were also present at the meeting. The occasion was the opening of a new ROSNEFT refinery, in whose construction Siemens participated.
A new and exciting exhibition opens its doors on 8th October 2013 in London at the Crystal. Presented by engineering experts Siemens in conjunction with London Transport Museum and media specialists CBS Outdoor UK, 'Going Underground: Our journey to the future' will showcase future developments for metro-style trains and stations. At the heart of the exhibition will be a full-size mock up of a brand new concept metro train – the Siemens Inspiro. A mix of interactive exhibits on display - housed in a temporary 'station' building - will focus on technologies to help travellers find their way more easily, electronic ticketing developments, passenger information systems and station management solutions. "Going Underground" is free to enter and will be open for a three month period. It will be located on the site of The Crystal in Royal Victoria Docks, London.
Miguel-Angel López (48), previously the Chief Financial Officer (CFO) of the Industry Automation Division, will become the new CFO of the Industry Sector, effective October 1. The business economist will succeed Ralf Thomas (52), who was appointed Chief Financial Officer of Siemens AG in mid-September 2013. López has served as the CFO of various business areas of Siemens VDO, Automation and Drives, Software and, since 2008, of the Industry Automation Division.
- Thomas new Siemens CFO effective immediately
- Helmrich appointed Labor Director as of October 1
Siemens AG has appointed a new CFO with immediate effect and will concentrate responsibilities within the Managing Board as of October 1, 2013. At its meeting today, Siemens' Supervisory Board appointed Ralf Thomas (52) CFO of Siemens AG. Mr. Thomas was previously CFO at the company's Industry Sector. His successor to this position will be announced soon. "With Ralf Thomas, we are gaining an experienced CFO who is very familiar with circumstances at Siemens through his many years of working at the company," said the Chairman of the Siemens Supervisory Board Gerhard Cromme.