At the General Meeting of Works Councils in Berlin on November 20, the Chairman of the Central Works Council of Siemens AG, Lothar Adler, announced that he will leave the company at the end of May 2014, upon reaching mandatory retirement age. His term of office as a member of the Supervisory Board will end on the same date. Adler is thus no longer willing to extend his employment contract, as he had contemplated earlier.
- Joe Kaeser underscores trusted partnership with Russia
Russian President Vladimir Putin visited the production plant of Ural Locomotives yesterday as the company – a joint venture of the Sinara Group and Siemens AG – began the mass production of the new regional trains which go by the name of Lastochka in Russia. Putin was accompanied by Denis Manturov, Minister of Industry and Trade of the Russian Federation, Vladimir Yakunin, President of JSC Russian Railways, Dmitry Pumpyansky, Chairman of the Board of Directors of the Sinara Group, and Joe Kaeser, President and CEO of Siemens AG.
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.
- Up to €4 billion in volume within the next up to 24 months
Siemens AG plans to carry out a share buyback of up to €4 billion in volume within the next up to 24 months. "We want to let our owners continually share in the company's success. To this end, we have defined a corridor for the company's capital structure in the framework of our 'One Siemens' financial system. We have committed to the shareholders and are holding to this commitment," said Ralf Thomas, Chief Financial Officer of Siemens AG.
- 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.