The Annual Shareholders’ Meeting of Siemens AG has approved the current compensation system for the Managing Board as well as a new compensation system for the Supervisory Board. The shareholders have also ratified the acts of the Managing and Supervisory Boards for fiscal 2010. As recommended by the Managing and Supervisory Boards, the Annual Shareholders’ Meeting has approved a dividend of €2.70 per share. The proposals regarding these agenda items were approved by large majorities.
In the first quarter of fiscal 2011, Siemens maintained the positive growth trend of the previous quarters, with a strong 19 percent increase in new orders year-over-year. Revenue also rose sharply by 12 percent. Income from continuing operations reached a record level, increasing 17 percent on strong development in the company’s short-cycle industry activities and power plant business. “Capital-efficient growth is our aspiration. We have lived up to it. Orders and revenue grew in all regions, particularly in emerging markets. From this our business in Germany benefits as well. We delivered excellent bottom-line performance and are fully on track to reach the targets we set for fiscal 2011,” said Siemens President and CEO Peter Löscher. The company confirmed its targets for the current fiscal year 2011 (ends September 30).
Despite of wintery road conditions, this year’s Annual Shareholders’ Meeting of Siemens AG was again well attended. Roughly 8,000 shareholders attended the event in the Munich Olympiahalle on Tuesday, compared with some 8,200 last year. A total of about 44 percent of Siemens AG’s capital stock was represented at this year’s meeting.
Siemens held its Annual Shareholders' Meeting at the Olympia Hall in Munich on January 25, 2011.
Capital-efficient growth is our aspiration. We have lived up to it. Orders and revenue grew in all regions, particularly in emerging markets. That benefits us in Germany as well. We delivered excellent bottom-line performance and are fully on track to reach the targets we set for fiscal 2011.
Major winter sports events are lined up worldwide. As growing numbers of cities and regions get in shape for world-class winter events, experts estimate that over €15 billion will be invested in new and existing infrastructure in winter sports areas by 2020. Organizers are increasingly considering environmental aspects in their planning. “Our solutions make us the ideal partner for winter sports areas. We support them with the management of major projects, including providing our expertise for sustainable urban development as well as our green technologies for the ski slopes,” said Siemens President and CEO Peter Löscher.
Siemens is off to a good start in the new fiscal year 2011. The company expects a strong increase in new orders in the first quarter of the year, compared to the comparable period in fiscal 2010. Revenue will also probably increase substantially year-over-year. Income from continuing operations in the first quarter is expected to exceed the prior-year level. “We’re off to a good start and are fully on track to reach our targets,” stated Siemens CFO Joe Kaeser at an investor conference in New York on Monday.
For the 15th time, Siemens – together with Friedrich Alexander University (FAU) in Erlangen-Nuremberg, Germany – is hosting a special technology conference, the Erlanger Technikgespräch, in the Siemens medicare building in Erlangen, Germany. Climate change, diminishing natural resources, increasing urbanization, rising prosperity and the related increase in energy demand require a new approach to the way energy is handled. The German government has set the course with its new energy concept. Plans call for reducing greenhouse gas emissions by 80 percent by 2050, compared to 1990 levels, while increasing the amount of power generated from renewable sources by the same percentage. Today, 16 percent of Germany’s energy requirements are met by renewable energies. “We won’t reach our climate goals,” emphasized Siemens President and CEO Peter Löscher, “unless we make electricity our all-encompassing energy carrier. In the future, electricity will also be used in fields where other energy carriers now dominate – in transportation, for example. We’re on the threshold of a new electric age.” And precisely here, added Löscher, is where Siemens, with its Environmental Portfolio, can make a decisive contribution – from renewable energies to electric mobility.